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ESMA publishes guidelines on the transfer of data between trade repositories under EMIR
Archive
16 Feb
2017
conduct risk, regtech and conduct, regtech conference

Culture, conduct and how RegTech can help

Improving the culture and codes of conduct within financial services firms has been a longstanding issue of contention since the financial crisis.  Combatting negative behaviours and inefficient controls has proven difficult to regulate and tackle head on. In 2013, the FSB officially acknowledged business conduct as a new category of business risk and now, in Read More

14 Feb
2017

Panel: the challenge of funding RegTech – the COO/CIO viewpoint

  • 14th February 2017
  • Darshna Pindoriya

One of the costliest and most troublesome activities that financial institutions face is complying with regulations. With information technology having already revolutionised consumer financial products, business models, applications, processes and services otherwise known as “FinTech,” it is less well known that information technology could also be used to help financial institutions meet the growing regulatory Read More

13 Feb
2017

Trumping Dodd-Frank: building on the foundations of the Financial CHOICE Act

  • 13th February 2017
  • Jordan Dilworth

On 3 February 2017, President Trump announced in a press briefing that “we expect to be cutting a lot of Dodd-Frank” because “so many people, friends of mine, with nice businesses” had been stifled by regulations and therefore faced difficulties acquiring loans.  Later that day, Trump signed Executive Order 13772, which established the agenda for Read More

12 Jan
2017
FCA 4th CP, FCA MiFID II, FCA MiFID Consultation, FCA Tied agents, FCA specialist regimes

The FCA’s 4th MiFID II consultation: an eclectic mix of technical standards

On 16 December 2016, the Financial Conduct Authority (FCA) published their fourth and final consultation paper (CP) on implementing MiFID II regulations into domestic regulation by 3 July 2017, which will be applied to firms from 3 January 2018.  MiFID II aims to bolster competition in the EU’s financial market by creating a single market Read More

09 Dec
2016
ISIN, MiFID II ISIN

Making ISINs work for MiFID II transaction reporting

In our preceding article about ISINs, we explored the pursuit of a universal OTC identifier, and discussed what has occurred in Europe to fix this gap in the financial industry.  The Association of National Numbering Agencies (ANNA) created the ANNA Derivatives Service Bureau, which is based on an automated ISIN allocation engine and is scheduled Read More

08 Nov
2016

Providing clarity on MiFID II, one guidance note at a time (part 1: systematic internalisers)

  • 8th November 2016
  • Bora Nanaj

With the MiFID II/R implementation deadline less than 420 days away, financial institutions are trying to find the smartest ways to comply with this new regulation.  JWG can make this process much easier through the collaborative effort of our MiFID II Implementation Group (MIG). About MIG The MIG is a JWG-facilitated weekly meeting of industry Read More

03 Oct
2016

Regulation YY: enhanced prudential standards

The Federal Reserve Board published a final enhanced supervision rule, known as Regulation YY, on 18 February, 2014.  This regulation implements certain provisions of Section 165 and 166 of the Dodd-Frank Wall Street Reform and Consumer Protection Act to establish enhanced prudential standards for large US bank holding companies (BHC) and foreign banking organisations (FBO).  Read More

29 Sep
2016

Brexit: is equivalence the answer?

  • 29th September 2016
  • Aoife Quinn

On Wednesday 14 September, the EU Financial Affairs Sub-Committee heard evidence from Mr. Simon Gleeson, Partner at Clifford Chance, and Mr. Peter Snowdon, Partner at Norton Rose Fulbright, for its Brexit Inquiry into financial services. Over the course of an hour, the discussion focused on how UK firms might hope to invoke rights of ‘equivalence’ Read More

26 Sep
2016

Payment Services Directive and third party involvement

The Payment Services Directive (PSD) was adopted in 2007 as a means for providing a legal foundation for establishing safer and easier electronic payment services throughout the European Union.  The goal was to make cross-border payments quick, efficient and secure.  In July 2013, the Commission decided to review PSD and modernise it to adapt to Read More