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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

European Commission Roadmap and EU Banking Reform

The European Commission (EC) has published a roadmap for a legislative proposal for the structural reform of EU banks. The expert group on reforming the structure of the EU banking sector had stated that reforming the structure of banks was necessary to complement the existing EU reforms taking place as they do not address all the underlying prob...

13 June 2013

Retired Member

EU and current European System of Financial Supervision

The EU has published a consultation document seeking feedback on the effectiveness and efficiency of the European Supervisory Authorities (ESAs) - the European Banking Authority, the European Securities and Markets Authority (which is responsible for implementation of EMIR) and the European Insurance and Occupational Pensions Authority - and the E...

11 June 2013

Retired Member

SEC proposals for cross-border security based swap activity

The Securities and Exchange Commission (SEC) has proposed detailed criteria which set out which regulatory requirements will apply when a transaction occurs partially within and partially outside the U.S. The proposed rules also detail when security-based swap dealers, major security-based swap participants, and other entities — such as clearing ...

31 May 2013

Retired Member

PRA Monitoring levels of capital - early warning indicators

The Prudential Regulation Authority (PRA) has published a letter sent on 23 May to all firms in the internal model approval process on the introduction of early warning indicators. The PRA proposes to use the period before the formal implementation of Solvency II to trial the use of early warning indicators in the individual capital adequacy sta...

30 May 2013

Retired Member

ISDA Protocols Updates

The International Swaps and Derivatives Association (ISDA) has published two protocols to assist firms in meeting the changes in derivative market regulatory changed. ISDA has launched its 2013 protocol which is intended to facilitate compliance with mandatory trade reporting requirements while addressing disclosure limitations and published its ...

30 May 2013

Retired Member

EMIR framework application to non-EU CCPs

The European Commission has published a paper on the “Practical implementation of the EMIR framework to non-EU central counterparties (CCPs)”. The European Market Infrastructure Regulation (EMIR) introduces a new recognition procedure for CCPs that are established outside the EU but wish to provide services to market participants that are estab

29 May 2013

Retired Member

EMIR Trade Reporting implementation now due in November 2013

The European Securities and Markets Authority has updated its website detailing that its best estimate is that the registration of the first Trade Repositories is not likely to take place before August 2013. The reporting start date is dependent on the actual date of registration of the first Trade Repository, taking effect 90 calendar days aft

29 May 2013

Retired Member

HKMA Updates OTC DerivativeTrade Repository Documents

The Hong Kong Monetary Authority (HKMA) has updated its website to post revised information and documents related to the Trade Reporting service. The documents updated are: the Reporting Service Reference Manual; the Reporting Service Product Scope; the Fee Scale for the Reporting Service; and the Reporting Service Agreement. RELATED LINK ht

28 May 2013

Retired Member

EMIR application - EU to provide clarity on approach

The European Commission has required the European Securities and Markets Authority to prepare regulatory technical standards on the application of the European Markets Infrastructure Regulation (EMIR) to transactions between non EU entities with a direct, substantial and foreseeable effect within the European Union. The regulatory technical stand...

28 May 2013

Marc Murphy CEO at Fenergo

Beneficial Ownership: A KYC opportunity or data nightmare?

Beneficial ownership is gaining significant exposure at the moment, with the UK intending to use its presidency of the G8 Leaders’ Summit next month to promote the improvement of international co-operation on tax evasion and push for greater transparency and accountability. As David Cameron, Prime Minister of Britain, states, “… dealing with tax e...

28 May 2013 /regulation /wholesale