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9 days ’til EMIR reporting go-live: where are you now?
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29 Jan
2014

9 days ’til EMIR reporting go-live: where are you now?

  • 29th January 2014
  • RegTechFS

JWG analysis. With 9 working days to go before compulsory reporting of derivatives trades becomes a daily reality, firms are in the final phases of implementing their individual solutions.  These differ from firm-to-firm, for example some are planning to report in real-time (as in the US), while others plan to report later within the T+1 Read More

20 Dec
2013

Newsflash: ESMA and EC EMIR reporting update

By: Sam Tyfield Just in time for your holiday, December has seen a cascade of reporting work from ESMA and the EU Commission on EMIR. On December 20, 2014, ESMA release an updated Q&A on EMIR.  Specifically on ETD reporting, see towards the bottom of the page at the link here (I have cut and pasted the relevant paragraphs below, Read More

16 Dec
2013

A Merry Regulatory Christmas From RegTechFS & JWG

  • 16th December 2013
  • RegTechFS

Dashing through the swap In a delegated trade O’er the deal we go Identifying all the way   Bells on ETD exchanges ring Making dark pools bright What fun it is to long and short With CDOs tonight   Jingle Bells! Jingle Bells! Jingle through the trade Oh what fun it is to know our Read More

29 Nov
2013

UPIs, UTIs and LEIs: Key issues and methods

  • 29th November 2013
  • RegTechFS

Following the success of Tony Russell’s UTI article, it seems apparent that implementing new identifiers will be a major area of difficulty prior to the start of OTC/ETD trade reporting in Februrary 2014.  The presentation below sets out the details of the proposals for the UPI and UTI, identifies some of the major issues and Read More

21 Nov
2013

An update on EMIR: ETD reporting and extraterritoriality get clarification

  • 21st November 2013
  • RegTechFS

In the past week, two key events have occurred in the EMIR space.  Firstly, ESMA responded to the Commission’s statement of intention not to allow a delay to the introduction of ETD reporting.  Secondly, ESMA also finalised its draft technical standards on EMIR extraterritoriality.  The effects of both should be good news for firms implementing Read More

20 Nov
2013

Risky business: What is ‘legal risk’ and how does the EU’s new Benchmark Regulation create it?

How many types of risk are there to a financial institution?  In recent years the list has grown from patently quantifiable risks – market, credit, liquidity – into more nuanced forms of risk, such as conduct risk and systemic risk.  However, increasingly ambitious regulation and certain key legal decisions have brought with them a new Read More

15 Nov
2013

Please bank responsibly: Three areas where the buy-side are being forced to take more responsibility in 2014

  • 15th November 2013
  • RegTechFS

2013 has been a real wake-up call for the buy-side.  New requirements from regulations like EMIR, AIFMD and Dodd-Frank have meant that funds, asset managers and even corporates are suddenly in regulators’ sights, some for the first time.  In the past, the reaction to such changes has frequently been to delegate new compliance responsibilities to Read More

14 Aug
2013

Spot the difference: Beware the lure of substituted compliance

On Tuesday, 13 August, the CFTC made a U-turn on a controversial issue: dual disclosure, reporting and record-keeping requirements for funds.  Having beaten legal challenges brought against plans to impose two sets of rules on funds, one set by the CFTC and one set by the SEC, the CFTC in the end backed down, saying Read More

13 Aug
2013

The domino effect: The snowballing cost of getting EMIR wrong

  • 13th August 2013
  • RegTechFS

As more EMIR deadlines approach, some regulatory positions are being reinforced, giving firms more reason to fear penalties and the growing legal stakes.  However, a delay to a reporting deadline because ‘ESMA realised that more guidance was needed given the complexity of the issue’ begs the question:  Can regulators say for certain that more unknown Read More