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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.

originally founded 01 Jul 2010

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Retired Member

FCA sets out reporting requirements under CRD IV

This is the second consultation paper issued by the Financial Conduct Authority (FCA) and follows the July consultation on proposed changes to the FCA Handbook as a result of the transposition of CRD IV. It covers the following policy areas: · CRD IV remuneration (that is, limits on bonuses); · a change to the transitional provision on the counter...

11 November 2013

Retired Member

FCA FAQs on CRD IV confirm that data quality is a priority

The Financial Conduct Authority (FCA) has published a new webpage on the fourth Capital Requirements Directive (CRD IV), which answers a number of frequently asked questions (FAQs) about the regime: general questions on CRD IV; FCA reporting; timing of implementation; data quality; using data; EBS reporting; investment firms; common reporting; and...

07 November 2013

Retired Member

AIFMD - Hong Kong ad Dubai regulators sign MoUs

The Hong Kong Securities and Futures Commission and the Dubai Financial Services Authority have entered into memoranda of understandings (MoUs) under the Alternative Investments Fund Managers Directive (AIFMD) with the competent authorities of a number of EU and EEA countries. The MoUs provide a framework for: mutual assistance in the supervisi

04 November 2013

Retired Member

41 responses to EMIR paper published by ESMA

The European Securities and Markets Authority (ESMA) has published the responses received to its discussion paper aimed at developing regulatory technical standards relating to the obligation to centrally clear over-the-counter (OTC) derivatives under the European Markets Infrastructure Regulation (EMIR). 41 responses are published including 9 fro...

31 October 2013

Retired Member

ESMA publishes 19 responses to EMIR consultation

The European Securities and Markets Authority (ESMA) has published the responses received to its consultation on the draft regulatory technical standards implementing the provisions of the European Markets Infrastructure Regulation (EMIR) related to over-the-counter (OTC) derivative transactions by non-EU counterparties aimed at preventing attempt...

29 October 2013

Retired Member

FCA depositary update on system and control requirements

The FCA has published a depositary update in connection with the Alternative Investment Fund Managers Directive (AIFMD). The update is relevant to a firm applying for authorisation or variation of permission to carry out the function of acting as depositary or trustee of an Alternative Investment Fund. The FCA states that: a depositary must not...

23 October 2013

Retired Member

CRD IV- HM Treasury consults country-by-country reporting

HM Treasury has published a paper “Capital Requirements Directive 4 (CRD IV): consultation on country-by-country reporting [CBCR]”. CRD IV requires institutions to disclose: (i) their name, (ii) the nature of their activities and geographic location, (iii) the number of employees, and (iv) their turnover on a country-by-country basis on 1 July 20...

22 October 2013

Retired Member

Derivative transaction reporting guide published by ASIC

The Australian Securities and Invesments Commission (ASIC) has published Regulatory Guide 251 for reporting entities that are subject to the reporting obligations under the ASIC Derivative Transaction Rules (Reporting) 2013. These reporting obligations come into force from 1 October 2013 and are being implemented in three phases – detail is provi...

21 October 2013

Retired Member

Report published on final framework by BCBS and IOSCO

The Basel Committee on Banking Supervision (BCBS) and the International Organisation of Securities Commissions (IOSCO) have published a report containing the final framework for margin requirements for non-centrally cleared derivatives. Under these globally agreed standards, all financial firms and systemically important non-financial entities tha...

18 October 2013

Retired Member

NY Fed speech on data reported to trade repositories

The President of the Federal Reserve Bank of New York made a speech on how over-the-counter derivatives reform fits into the broader financial reform agenda. He expressed concern that regulators were not going to achieve the full benefits from trade repositories (TRs). He urged regulators, market participants and TRs to continue to work together ...

17 October 2013