1270 Results from 2013
Retired Member
In previous articles, we discussed the concept of Eventos that the Brazil tax authority was evaluating. And as always, the first wave of inbound receiving mandates are already hitting specific industries. Currently, the concept of Eventos is mandated to be implemented for Oil and Gas companies. The mandates fall into two basic industry categorie...
06 March 2013 /regulation Electronic invoicing
The European Securities and Markets Authority (ESMA) has published a call for evidence on the effects of the Short Selling Regulation and is surveying market participants. The review focusses on: transparency and reporting requirement; restriction on short selling shares and sovereign debt; restrictions on entering into uncovered sovereign credit...
06 March 2013 Financial Services Regulation
Pre-global financial crisis, collateral management was a spreadsheet-based function, often a box ticking exercise. However, it is now undergoing a huge shake up, as incoming regulations are redesigning the clearing landscape. The US Dodd-Frank Act and its European equivalent, European Market Infrastructure Regulation (EMIR) are transitioning the d...
05 March 2013 /regulation
On 14 February the Commission adopted a proposal for a Directive implementing the enhanced co-operation for a financial transaction tax (FTT). The tax will be due if any party to the transaction is established in a participating Member State, regardless of where the transaction takes place. This applies whether the firm engaged in the transactio...
05 March 2013 Financial Services Regulation
The European Securities and Markets Authority (ESMA) has updated its Frequently Asked Questions on the European Markets Infrastructure Regulation (EMIR) by adding a new question 13 in part II on the requirements for timely confirmation of transactions which are not CCP cleared. ESMA explains that 1 to 7 days is the permitted time range for non CCP...
Robert Siciliano Security Analyst at Safr.me
A good friend of mine called me recently to ask what I knew about scams from online sales. He had placed an ad on CraigsList for something he was trying to sell and had asked for $150 for the item. He had received a call from a woman and she offered to send him a check for the item. Shortly thereafter, he received a $2,400 check from a major chemi...
05 March 2013 /security
The European Securities and Markets Authority (ESMA) has issued guidelines on the exemption criteria for market makers under the short selling provisions. The template forms that are required to be completed to give notice of intent to utilise the exemptions are annexed to this. http://www.esma.europa.eu/system/files/2013-158.pdf
04 March 2013 Financial Services Regulation
Post-Lehman, risk information has been in high demand. Still, there seems to exist a “risk gap” among risk managers and risk takers including fund managers and traders in the front office who continue to view risk management as an ‘after the fact’ middle office reporting routine for investors and regulators. In effect, many risk takers are still n...
04 March 2013 /regulation
Yusuf Rangwala Head Product Development at Fundtech
Standards play a vital role in the prudent management of financial systems. With the advent of electronic payment products, transaction volumes are increasing and the requirement to exchange data is becoming inevitable. The adoption of global technical standards is no longer a choice but a necessity for the financial services industry. Global b
04 March 2013 /wholesale
McCormack told a good story about the chairman of Rolex not knowing much about the watch business as he said his company was in luxury business. What many people missed or simply didn't pay much attention to at MWC in Barcelona was Apple's absence. What business is Apple in? IMO, UX. Someone said Apple is about quantum leaps, not incremental steps...
02 March 2013 /payments Innovation in Financial Services
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