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 

G20 confirms goal of completing derivative markets reform

The G20 finance ministers and central bank governors met in Sydney and have issued a communiqué confirming that they will be focusing their efforts on substantially completing the following four core reforms: building resilient financial institutions; ending too-big-to-fail; addressing shadow banking risks; and making derivatives markets safer

05 March 2014

Retired Member 

ESMA confirms scale of work for MiFID II and EMIR reporting

In a speech, Verena Ross, Executive Director, European Securities and Markets Authority (ESMA), spoke about ESMA’s forthcoming work on the implementation of the revised Markets in Financial Instruments Directive (MiFID II) as well as ESMA’s work on the implementation of the European Markets Infrastructure Regulation (EMIR). MiFID II is the most ...

05 March 2014

Amit Agrawal NA at in transit

Hidden Cost of Compliance

Financial Crisis have made the regulator active like never before and resulting in more and more upcoming regulations. This upsurge in the volume and velocity of regulations has unintended consequences significantly impacting established bank’s business models and creating challenges for firms in delivering positive client experiences. The est

04 March 2014 /regulation

Retired Member 

ESMA publishes document on application of AIFM Directive

The European Securities and Markets Authority (ESMA) has published a questions and answers (Q&As) document on the AIFM Directive to promote common supervisory approaches and practices in the application of the AIFM Directive and its implementing measures by providing responses to questions posed by the general public and competent authorities ...

04 March 2014

Retired Member 

ESMA updates MoU table on AIFM Directive

The European Securities and Markets Authority (ESMA) has updated its table showing the progress by national regulators in concluding Memoranda of Understanding (MoU) between EU national supervisors with non-EU regulators worldwide in respect to the application of the Alternative Investment Fund Managers Directive (the AIFM Directive). These MoUs ...

03 March 2014

Retired Member 

EIOPA updates questions and answers on Solvency II

The European Insurance and Occupational Pensions Authority (EIOPA) has updated the questions and answers (Q&As) on the guidelines by adding Q&As 26 to 29 which include the reporting of assets and whether certain countries should be included when reporting data. Related link: https://eiopa.europa.eu/publications/eiopa-guidelines/qa-on-eiop...

03 March 2014

Retired Member 

EBA update include clarification on supervisory reporting

The European Banking Authority (EBA) online set of questions and answers (Q&As) on the single rulebook, which relate to the CRD IV Directive and the Capital Requirements Regulation (together CRD IV) have been updated. On 14 February 2014, the EBA updated the Q&As on supervisory reporting which now number 83. The updates (which are extensi...

28 February 2014

Retired Member 

PRA sets out timetable of activity for Solvency II

The Prudential Regulation Authority (PRA) has published a timetable of its activity relating to Solvency II into May 2014. This sets out key activities that the PRA considers may be helpful to firms as they make preparations for the new regime. The timetable includes details that: . the PRA will publish: - a consultation paper on "Solvency II:...

28 February 2014

Retired Member 

FCA sets supervisory approach to EMIR risk mitigation

The FCA has updated its webpage in relation to their supervisory priorities arising from the implementation of the European Markets Infrastructure Regulation (EMIR). In line with its supervisory approach, the FCA expects firms which are unable to comply with risk mitigation requirements for non-cleared trades relating to portfolio reconciliation, d...

27 February 2014

Retired Member 

FCA publishes manual on COREPand FINREP reporting

The Financial Conduct Authority (FCA) has published a filing manual containing the rules and guidance for firms and software vendors when creating XBRL instance files for CRD IV common reporting (COREP) and financial reporting (FINREP). The purpose of the manual is to provide UK-specific guidance and rules that are in addition to the European Banki...

27 February 2014