News analysis on how banks and asset managers are implementing conduct-focused rules, including investor protection under Mifid II’s product governance frameworks and the integrity of Libor.

Mifid II: third-country banks target reporting workarounds

Jul 4, 2018

Transaction reporting is not new, but the personal data requirement may be a game-changer for US banks. Here in-house sources detail their latest solution. It was popular when Dodd-Frank became effective, but some say it flouts the EU's new directive

Buy and sellside reveal FCA premium listings concerns

Jul 6, 2018

Equities execution teams feel that the FCA’s premium listing reform will make no difference to market practice. Here investors share their concerns about diluting the quality of the LSE

Securitisation stalls on Libor reform

Jul 5, 2018

The securitisation market is yet to adopt the Libor fallback provisions, even after Afme provided template model wording. Market participants are suffering from regulatory fatigue

Mifid II shrinks sellside use

Jul 3, 2018

Buyside firms reveal that Mifid II’s transparency requirements have led to a decrease in the need for sellside. The new directive’s democratisation of data may be noble, but it’s already hitting sales and trade desks across the EU

Banks waiting for buyside on Brexit relocation

Jul 3, 2018

Sellside sources are in the dark about buyside’s Brexit plans, while many asset managers have been busy relocating assets into Ireland and Luxembourg in anticipation. Firms reveal their struggle of making Brexit plans in light of competition law and countless internal struggles

Priips & Mifid II: retail platforms still pulling products

May 10, 2018

Retail products are still being delisted from investment platforms across the EU as firms struggle with complex formulae and inconsistent, overzealous interpretations of the two new investor protection regimes. One company has removed around 10% of all its products since January. Here senior figures at EU wealth management firms explain how they are adjusting to the new normal

Libor reform: market not sold on Sonia

May 10, 2018

Market participants call the LSE's new three-month Sonia an "irrelevant" index that no one is using, as enduring ambiguity about the future of benchmarks begins to affect long-dated floating rate bond sales. Here firms reveal the fall-back provisions they are exploring in documentation, though unsurprisingly, there's little consensus

Mifid II accelerates shift towards block trading

May 3, 2018

As predicted, the new framework has forced a dramatic shift towards large-in-scale deals as traders look for workarounds to the contentious double volume caps. Here block trading specialists, bankers and operators of the EU's biggest dark pools explain what other factors are at play, including competition between active and passive strategies and the rise of technology

Special reports

Libor Survey Report

Latest report

This landmark Libor reform survey finds a market split on everything from managing the transition and minimising disputes to impact on documentation and pricing. In-house lawyers, heads of rates, traders and corporate treasurers tell us how the upheaval will affect them