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 

ASIC trade repository rules

The Australian regulator, the Australian Securities and Investments Commission (ASIC), has publishedconsultation on draft rules and regulatory guidance to establish a trade repository regime implementing its G20 commitments. The consultation paper sets out proposals for the licensing of derivative trade repositories or data warehouses which maint...

09 April 2013

Retired Member 

Regulatory Issues Raised By Changes In Market Structure

The International Organisation of Securities Commissions (IOSCO) published a consultation paper on the regulatory issues raised by changes in market structures. The 46 page paper seeks to gather evidence to develop recommendations to promote: market liquidity and efficiency; price transparency; and investors’ execution quality in a fragmented env...

08 April 2013

Retired Member 

FCA Business Plan published emphasising market abuse

The Financial Conduct Authority (FCA) business plan sets out how these risks will be managed in its first year of operation and how it will use its resources effectively to meet its objectives, which are to: secure an appropriate degree of protection for consumers; protect and enhance the integrity of the UK financial system; and promote effective...

08 April 2013

Retired Member 

ESMA publishes new EMIR Q and A

The European Securities and Markets Authority (ESMA) has published a new Q&A on the European Markets Infrastructure Regulation (EMIR) to promote common supervisory approaches on the application of EMIR. The Q&A are split into the following sections: OTC derivatives - including definitions of OTC contracts, the notification and calculation...

05 April 2013

Amit Agrawal NA at in transit

Women Bank - Innovative concept

P Chidambaram’s budget (Indian Finance Minister) gave the biggest surprise in his Budget speech by announcing a public sector bank exclusive for women. Currently in India as per 2012 World Bank Study, only 26% of women in India have an account with a formal financial institution. It is known fact in India women are discriminated against the loan gi...

04 April 2013 /retail

Retired Member 

Euro Comm Report on clearing and reporting under EMIR

When the European Markets Infrastructure Regulation (EMIR) was adopted there were uncertainties on the treatment of foreign central banks in respect of the application of the OTC derivatives reforms. The European Council postponed a decision on the application of EMIR to third-country central banks until there was more clarity on local regulatory...

04 April 2013

Retired Member 

Revised RTS for CCPs published

The European Securities and Markets Authority (ESMA) has published its opinion on the Regulatory Technical Standards (RTS) for colleges for central counterparties (CCPs). This RTS sets out the framework for authorisation of CCPs in Member States. ESMA had failed to obtain Commission endorsement for the original RTS as it had exceeded the its man...

03 April 2013

Retired Member 

Fees for Trade Repositories

The European Securities and Markets Authority (ESMA) has published the responses received to its consultation paper. There were six published form Krajowy Depozyt Papierow Wartosciowch SA (KDPW) Poland, DekaBank Deutsche Girozentrale, Polish Bank Association, Abide Financial Limited, Depository Trust and Clearing Corporation and the London Metal ...

28 March 2013

Amit Agrawal NA at in transit

Regulations, Regulations and More Regulations

In the current scenario banks need to compliance with FATCA, Dodd-Frank, EMIR and MiFID II. And we will not be surprised if we have few more regulations added up sooner or later. Also, they have limited amount of time to compliance with it. With my past experiences, I had realised that major drawback or pull factor for banks not to compliance is d...

27 March 2013 /regulation

Retired Member 

ESMA guidance on recognition of third country CCPs

The European Securities and Markets Authority (ESMA) has published guidance on how it will recognise third country central counterparties (CCPs). This covers communication with ESMA to apply for recognition, timeframes for submission of applications and the assessment criteria. The jurisdiction in which the CCP is established must have: · Legal ...

26 March 2013