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ESMA Consults on New MiFIR and MiFID II Regimes for Third-Country Firms
The European Securities and Markets Authority (ESMA), the EU’s securities markets’ regulator, has launched a consultation on draft technical standards on the provision of investment services and activities in the European Union (EU) by third-country firms under MiFIR and MiFID II, which will specify the information that third-country firms must provide to ESMA for the…
SteelEye Outlines International Expansion and Product Development Plans Following Series A funding of $10 Million
SteelEye will extend its presence in Europe, evolve its regulatory compliance and data analytics products, and expand its team after raising $10 million of Series A funding in a round led by Eight Roads, the proprietary investment firm backed by Fidelity, and including its existing investor Illuminate Financial. Looking two years out, the company is…
Swiss Indices Endorsed Under the EU Benchmarks Regulation
SIX has received the approval by the Swedish Financial Supervisory Authority that its major Swiss Indices are compliant with the EU Benchmarks Regulation. The approval was granted for a total of 39 equity, fixed income and money market indices. The flagship indices SMI and SARON (the Swiss franc reference rate) are also included. The aim…
Banks, Investment Firms Brace for April 14 SFTR Implementation Date
With the first implementation date looming for the EU’s Securities Finance Transaction Regulation (SFTR), banks and investment firms impacted by the April 14 live date are finalizing their preparations for this data-heavy reporting regulation To aid in those efforts – and to facilitate industry discussion around best approaches to the regulation – A-Team Group is…
Recorded Webinar: High noon for surveillance: resolving tension between the costs of false positives, challenges of calibration, and compliance
When it comes to trade surveillance, regulators want firms to do their own alert calibration, examine all alerts, and keep auditable records. Firms need to balance the real cost of false positives with the technical challenge and risk of self-calibrating and auto-calibrating, while compliance, IT and vendors have to grapple with the need for defensible…
Divergence Brings Investment Opportunity, But a Whole Myriad of Reporting Complexities
Quinn Perrott, co-CEO of TRAction. Hard to believe, but we are almost 24 hours away from the day that has been on the horizon for what seems like an eternity. Ironically, when Big Ben finally bongs at 11pm (GMT) on Friday, Brexit still does not mean Brexit. Britain may have officially left the EU treaties,…
A Quiet Revolution: Changing Attitudes to Oversight and Contingent NAV Capabilities
The legal and regulatory landscape for the asset management industry has transformed over the past decade – with major upgrades such as AIFMD, FATCA, CRS and BEPs, in addition to a myriad of local compliance requirements. As the reporting demands of both investors and regulators grow, so too does the need for specialist knowledge, processes…
Market Abuse Crackdown: Could your Solution Stand Up to Scrutiny?
Other regulations may have taken the spotlight in the three years since the EU’s Market Abuse Regulation (MAR) came into force in July 2016, but its overarching goal of harmonised capital market transparency remains a key regulatory focus – and it would be a mistake to think that the authorities have taken their eye off…
Trade Associations Demand Reporting Changes Ahead of MiFID II Review
The European Forum of Securities Associations (EFSA), in conjunction with members from Spain, France, Italy, Belgium, Germany, Denmark, Poland, and Sweden, this week released an open letter calling for a number of changes to be considered as priorities in any upcoming review of MiFID II by the EU authorities. “There are some areas… which need…
RMA Issues SFTR Reporting Contract Template
Following the January release of the final SFTR report by ESMA, the US-based Risk Management Association has issued a new standard legal agreement to address mandatory reporting obligations for SFTR, ahead of its initial go-live date of April 11. The template follows in the footsteps of the Master Regulatory Reporting Framework launched by the International…