Financial Services Regulation

This network is for financial professionals interested in staying up to date on financial services regulation happening anywhere in the world. CFOs, bankers, fund managers, treasurers welcome.

Retired Member 

CFTC provides no action relief for swaps traded on MTFs

The Commodity Futures Trading Commission (CTFC) has announced that the new replacement no action letter for swaps traded on Multliateral Trading Facilities (MTFs) contains notable clarifications seeking to harmonise the framework for SEFs and MTFs. The no action letter conditions include that: an MTF must report all swap transactions to a CFTC r...

29 April 2014

Retired Member 

BCBS issues report on Basel regulatory framework

The Basel Committee on Banking Supervision (BCBS) has published an updated progress report on the implementation of the Basel regulatory framework. This sets out the adoption status of Basel II, Basel 2.5 and Basel III regulations for each BCBS member jurisdiction as of end March 2014. The report updates the BCBS’s previous progress reports and...

28 April 2014

Retired Member 

FSB publishes report on implementation of OTC derivatives

The Financial Stability Board (FSB) has published its seventh detailed progress report on the implementation of OTC derivatives market reforms. The report observes that significant progress has been made in fulfilling the G20 commitments through global policy development, adoption of legislation and expanded use of market infrastructure. In respec...

25 April 2014

Retired Member 

ACER publishes material on REMIT reporting

The Agency for the Cooperation of Energy Regulators (ACER) has published the materials from its workshop on the regulation on wholesale energy market integrity and transparency (REMIT) implementation. This includes: a status update on REMIT implementation which sets out the likely timetable for data reporting to commence as Q4 2014. This also in...

24 April 2014

Retired Member 

EIOPA consults on functioning of colleges of supervisors

The European Insurance and Occupational Pensions Authority (EIOPA) has published a consultation paper, together with a related cover note, on proposed guidelines on the operational functioning of colleges of supervisors as required under of the Solvency II Directive. The aim of the 28 guidelines is to clarify and enhance the co-operation between c...

23 April 2014

Retired Member 

Regulators work on OTC cross-border implementation issues

The OTC Derivatives Regulators Group (ODRG) (which includes principals from regulators worldwide with responsibility for over-the-counter (OTC) derivatives regulation) has produced its first report (published on 31 March) which sets out the current list of remaining cross-border implementation issues and their current status, including: treatment...

22 April 2014

Retired Member 

ESMA sets out supervisory monitoring of TRs under EMIR

The European Securities and Markets Authority (ESMA) has published a summary of its supervisory work plan 2014 in relation to trade repositories (TRs) authorised under the European Markets Infrastructure Regulation (EMIR). The bulk of activities for 2014 are expected to be of a desk based on-going supervisory nature (although detail on ESMA’s abili...

17 April 2014

Retired Member 

FCA publishes Hedge fund report

The Financial Conduct Authority (FCA) has published a report setting out the findings from its hedge fund survey based on data received from 49 management firms. The data is intended to inform FCA’s approach to monitoring and managing risk in the investment industry. The survey includes information on: · the size and scale of the hedge fu...

15 April 2014

Retired Member 

FCA GABRIEL reporting system ready for CRD IV submissions

The Financial Conduct Authority (FCA) has published a communication sent to firms on 17 March 2014 to inform them that the GABRIEL reporting system is ready to receive submissions for common reporting (COREP) and financial reporting (FINREP) from 1 April 2014. As the FCA is making changes to reporting schedules in another system, firms are reques...

15 April 2014

Retired Member 

BCBS finalises approach of derivatives-related transactions

The Basel Committee (BCBS) has published a final standard on the treatment of derivatives-related transactions in its capital adequacy framework. This applies to OTC derivatives, exchange-traded derivatives and long dated settlement transactions. The new risk-sensitive methodology differentiates between margined and unmargined trades, and aims t...

14 April 2014