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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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US and Japanese issues statement on FATCA

The US and Japanese authorities have issued a joint statement to facilitate the implementation of the Foreign Account Tax Compliance Act (FATCA). The statement is intended to clarify the details of the cooperation between the US and Japanese authorities as well as procedures to be taken by Japanese financial institutions regarding the implementat...

08 August 2013

Retired Member

FRB proposes new data reporting requirements

The Federal Reserve Board (FRB) has proposed new data collection requirements related to selected money market instruments. To assist in monitoring money market conditions, the proposal will require insured depository institutions with total assets of $26 billion or more, and U.S. branches and agencies of foreign banks with third party assets of

07 August 2013

Retired Member

CFTC approach to cross-border derivatives rules clarified

In a speech the US Commodity Futures Trading Commission (CFTC) Commissioner outlined three objectives that must be achieved by the pending cross-border guidance and relief in cross-border policy. These are: protecting the US taxpayer and financial system; avoiding fragmenting liquidity and creating unfair competitive advantages for some firms an

06 August 2013

Retired Member

FSB agrees to global aggregation of trade repository data

The Financial Stability Board (FSB) met on 24 June to discuss “vulnerabilities affecting the global financial system and progress in authorities’ work to strengthen global financial regulation.” The progress in the implementation of reforms to OTC derivatives markets was also discussed. It was agreed that global aggregation of trade repository da

05 August 2013

Retired Member

FSB agrees to global aggregation of trade repository data

01 August 2013

Retired Member

New disclosure requirements in the Netherlands

New disclosure requirements for holdings of share capital/voting rights and gross short positions in the Netherlands Dutch law has changed as follows: the disclosure of holdings of shares and/or voting rights in Dutch listed issuers has been reduced from a 5 per cent to a new 3 per cent threshold; and it is now also mandatory to notify gross short...

30 July 2013

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ECON adopts report on Council directive

The European Parliament’s Committee on Economic and Monetary Affairs (ECON) has adopted a report on the European Commission’s proposal for a Council directive implementing enhanced cooperation in the area of financial transaction tax. Related Link: http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+REPORT+A7-2013-0230+...

29 July 2013

Retired Member

EBA launch new single rulebook QandA tool for CRD IV

The European Banking Authority (EBA) has launched a question and answer (Q&A) tool which aims to allow firms and regulators to submit questions on: the amended Capital Requirements Directive (CRD 4); the related Technical Standards; and the EBA guidelines. The purpose of the tool is to ensure consistent application of the single rulebook Re...

26 July 2013

Retired Member

EU require reporting of suspicious orders and transactions

The Council of the European Union announced that its Permanent Committee of Representatives (COREPER) has approved a compromise on the proposed Market Abuse Regulation (MAR). The compromise agreement is set out in the fourth column of the table included in the note (headed the "25 June Package Text") and in the annex to the note. This ma...

25 July 2013

Retired Member

CRD IV legislation published in the Official Journal

On 27 June 2013, the Capital Requirements Regulation (CRR) and the CRD IV Directive were published in the Official Journal of the European Union. CRD IV implements the Basel III reforms in the European Union and the CRD IV Directive repeals the Capital Requirements Directive with effect from 1 January 2014. The CRR entered into force on 28 June 2...

24 July 2013