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What next for SFTs after SFTR? – Article 29(3) report
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19 Oct
2016

What next for SFTs after SFTR? – Article 29(3) report

  • 19th October 2016
  • Kara Paslawska

The Securities Financing Transitions Regulation (SFTR) has been introduced in the light of the G20’s agenda to address concerns of the build-up of leverage and pro-cyclicality which can be caused by securities transactions. Article 29(3) of SFTR specifically asks ESMA along with European Banking Authority (EBA) and European Systemic Risk Board (ESRB) to help ESMA..

31 Aug
2016

Banks still pose the risk of being “too big to fail”

  • 31st August 2016
  • Darshna Pindoriya

On 18 August 2016, the Financial Stability Board (FSB) published two final guidance papers for authorities and firms as part of the agenda to end the “too big to fail” risk. Some progress is being made, and the FSB has said that “banks have begun to develop issuance strategies to meet new total loss-absorbing capacity..

15 Jun
2016

Jurisdictions lacking the tools for shadow banking oversight

  • 15th June 2016
  • Mark Robinson

On 25 May, the Financial Stability Board (FSB) reported on jurisdictional progress in implementing their policy framework for strengthening oversight and regulation of shadow banking entities. Shadow banking emerged as a financial stability priority following the events of the financial crisis in 2008, when a number of non-bank financial entities entered into liquidation due to..

08 Dec
2015

Six years on from the financial crisis… where have we got to and where do we go from here?

Financial regulation remains as complex as ever. Complex new niches such as shadow banking, Fintech, and Over-the-Counter Derivatives, and the increasing interconnectedness of Financial Institutions (FIs) across the world, have led to greater risks to be managed for regulators. With this in mind, how they manage to get ahead of these rapid financial evolutions and..

08 Jul
2014

RegDelta alert no 6: HKMA issuance of recovery planning guidelines

JWG analysis. Last month (20 June), the Hong Kong Monetary Authority issued a new Supervisory Policy Manual (SPM) on the topic of recovery planning (Module RE-1: Recovery Planning) following a consultation with Hong Kong’s two industry associations. This follows the Financial Stability Board’s push to implement standards in the area of recovery and resolutions plans..

06 Feb
2014

The OTC mirage: As deadlines near, global trade reporting follies emerge

  • 6th February 2014
  • RegTechFS

JWG analysis. With the 12 February EMIR trade reporting deadline just around the corner, the atmosphere in the derivatives industry suggests just as much turmoil as ever. Issues surrounding LEI registration, UTI reconciliation and trade repository affiliations persist as the rush to comply with mandatory reporting rules begins.  The industry is still grappling with issues that..

19 Nov
2013

The cost of implementing the LEI: CDOs under the gun?

  • 19th November 2013
  • RegTechFS

A big theme present at a big industry data conference earlier this month was how firms were approaching the BCBS’s standards on risk data aggregation as well as the implementation of the regulatory data agenda. With the FSB and the BCBS agreeing that “higher expectations” must be met by G-SIFIs for risk data aggregation and..

08 Oct
2013

One step forward or two steps back? FSB reports on implementation of global OTC reform

On 2 September 2013, the Financial Stability Board (FSB) published the sixth of its semi-annual comprehensive progress reports on over-the-counter (OTC) derivatives reform, as per the agenda of the 2009 G20 summit in Pittsburgh.  Although some of the reform proposals have stalled, particularly in light of the compromised agreement between the US and the EU..

10 Jul
2013

INSEE approved as first French pre-LOU

  • 10th July 2013
  • RegTechFS

INSEE has now gone live as the first French pre-LOU able to issue pre-LEIs. Details can be found on their website here (in French) . Translation below: The G20 has approved the unique device for intentifying market participants (global LEI system, GLEIS) agreed at the June 2012 Los Cabos Summit, which will facilitate the management..

26 Apr
2013

The LEI: From interim identifiers to a global standard

  • 26th April 2013
  • RegTechFS

Recently, CFTC Commissioner Scott O’Malia issued a blistering condemnation of the lack of data standards within financial services regulation: “the Commission told the industry what information to report, but didn’t specify which language to use. This has become a serious problem…. nobody should be under the illusion that promulgation of the reporting rules will enhance..