News analysis on how banks, asset managers and trading venues are implementing new rules, from the changing nature of market structure under Mifid II, to how firms are grappling with transparency obligations and transaction reports.
Practice Insight speaks to John Ball, Asia Pacific managing director of GFMA’s global FX division, on what the BMR means for non-EU benchmark providers and how the industry is preparing
Following the fines of £34.3 million and £27.6 million meted out to Goldman Sachs and UBS respectively for reporting failures, compliance functions at banks and other market participants tell Practice Insight they expect further penalties this year
Bankers, third-party verifiers and lawyers wish to see uniformity from national regulators on the interpretation of the STS rules for securitisation, specifically on the underlying pool of assets, data disclosure and treatment of receivable risks
While banks appear to be complying well with Emir’s complex reporting requirements, a number of buyside firms could be in for a shock if the regulator chooses to come knocking at their door
In the latest extraterritorial move from European policymakers, the new securities financing rules are likely to cause a number of problems for US firms executing trades in the EU
A batch of STS-approved deals makes some hopeful about the new regime, but others remain unconvinced and believe the market will shrink due to the stringent data requirements
In-house compliance teams are finding it hard to digest Esma’s guidance on SFTR as some definitions are inconsistent with Icma’s best practice guide, specifically repo and buy-sell back transactions
Market consensus is forming around temporary solutions such as the CRA III or BoE templates while firms continue to wait for the European Commission’s approval
This landmark SFTR report reveals how securities finance transaction market participants are preparing for the upcoming regulation.
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