ESMA calls for modification of UCITS Directive
The European Securities and Markets Authority (ESMA) has published an Opinion to the European Union (EU) institutions on the impact of EMIR on UCITS. In…
Regulation
FCA publishes terms of reference for its investment and corporate banking market study
The Financial Conduct Authority (FCA) has set out the issues it will focus on as part of its market study into competition in investment and…
Buy-Side Algo Trading volume downticks for first time in five years
Buy-side firms are under a global microscope to ensure they act in the best interests of their clients, according to TABB Group in the first…
European Swaps Market Delays Yielding Benefits to End Users
Now that Europe has begun to implement a much-delayed program of reforms reshaping the landscape for swap market participants, TABB Group in new research, “European…
Record fines of $5.7billion for rigging of foreign exchange
The US department of Justice has announced a law enforcement action against financial institutions that participated in a display of collusion and foreign-exchange rate market…
FCA fines adviser for high risk recommendations
The Financial Conduct Authority (FCA) has fined Paul Reynolds (formerly known as Paul Brian Reynolds) £290,344 and banned him from performing any function in relation…
ESMA Updates its AIFMD QandA
ESMA has updated it’s Q and A for the Alternative Investment Fund Managers Directive. The answers are intended to help AIFMs by providing clarity as…
SEC to undertake full review of equity markets
In a speech on May 11th 2015, Commissioner Luis A. Aguilar of the U.S. Securities and Exchange Commission has spoken of the need to undertake a thorough…
How Basel III and CRD IV are killing the hedge fund model
Basel III and CRD IV are impacting banks’ leverage ratios, capital requirements and consequently all market participants with smaller balance sheets. Tier 2 and 3…
CFTC Approves Proposed Rulemaking
The U.S. Commodity Futures Trading Commission (Commission) approved for public comment a proposed rulemaking that would reduce reporting and recordkeeping requirements for trade option counterparties…
MiFIR Reporting Requirements: Not for the Fainthearted
The sequel to MiFID I represents a significant increase in data and complexity for transaction reporting. The Markets in Financial Instruments Regulation, scheduled to come into force…
ESMA publishes updated EMIR Q&A – focus on reporting
The European Securities and Markets Authority (ESMA) has issued the 13th update of its Q&A document on the implementation of the European Markets Infrastructure Regulation…
Swiss Independent Asset Management: Evolve and Survive as Regulation Culls the Herd
Two new Aite Group reports, The Swiss Independent Asset Manager’s Future: Regulation to Cull the Herd? and Swiss Independent Asset Management: Evolve and Survive, address the plight of Swiss…
FCA fines Deutsche Bank for £227 million for IBOR failings and for misleading the regulator
The Financial Conduct Authority (FCA) has handed Deutsche Bank AG (Deutsche Bank) a £227 million ($340 million) fine, its largest ever for LIBOR and EURIBOR-related…
Merrill Lynch International fined for transaction reporting failures
Merrill Lynch International (MLI) has been fined £13,285,900 by the Financial Conduct Authority (FCA) for incorrectly reporting 35,034,810 transactions and failing to report another 121,387…
Volcker calls for overhaul of Federal financial regulatory system
The Volcker Alliance, a non-partisan, non-profit organization founded by former Chairman of the Board of the Federal Reserve Paul A. Volcker to address the challenge…
CNP Assurances integrates SimCorp Dimension for Solvency II compliance
After analysing trends in the financial markets and its investment portfolio, as well as forthcoming changes to prudential regulations, such as Solvency II, CNP Assurances decided…
Boat to support industry with MiFID II transparency solution
Boat Services Ltd, independent OTC trade reporting service provider, has announced that it will apply for approved publication arrangement (APA) authorization under MiFID II. …
IOSCO consultation report for trading venues and intermediaries
The International Organization of Securities Commissions (IOSCO) has published two consultation reports aimed at further enhancing the ability of financial markets and intermediaries to manage…
The mystery suspension of Milford
Milford Asset Management has been suspended from its role as asset manager by The Guardians of New Zealand Superannuation, the manager of the New Zealand…