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A new era of corporate governance in Japan
30 Jul

A new era of corporate governance in Japan

JWG analysis. Japan is planting new seeds to grow and allow for corporate profitability to flourish.  Its past has not been untarnished when it comes to corporate governance, and it would give the US’ Enron era a run for its money.  To many, Japan has been a global pariah when it comes to corporate governance Read More

27 Feb

ESMA publishes 3rd country CCP list

  • 27th February 2014
  • RegTechFS

JWG analysis. ESMA has published an updated list of non-EEA central counterparties (CCPs) that have applied for recognition under Article 25 of EMIR. ESMA has taken care to note that the list is not exhaustive and only includes applicants that have agreed to have their name mentioned. Those CCPs that pass the approval process will be permitted Read More

03 Dec

Moving the goalposts: How does the CFTC’s recent announcement change the game for non-US swaps businesses?

The OTC trading space is being kept on its toes by the Commodities and Futures Trading Commission (CFTC); recent developments mean that more market participants worldwide are in scope of US derivatives rules than ever before.  In our previous piece, JWG analysed the CFTC’s rules on who is a ‘US person’ for their purposes, and Read More

15 Aug

Dodd-Frank vs. EMIR: The reality of substituted compliance

Millions of hours have already been spent aligning Dodd-Frank and EMIR implementation in the OTC space.  However, in July, regulators changed the game.  By declaring certain sections of Dodd-Frank and EMIR to be equivalent, they broke a worrying stalemate between the EU and US which threatened to leave US entities unable to clear through European Read More

07 Aug

No easy answers: New EMIR Q&A extends classification challenge

  • 7th August 2013
  • RegTechFS

On 6 August, ESMA updated its Q&A guidance on the implementation of EMIR (read here).  Firms should pay particular attention to these Q&As as they have been known to overturn some common assumptions in the past, and this edition is no exception.  In particular, the new answers spell bad news for the future cost of Read More