Europe

While end-2021 remains the firm target date for all firms to meet, interim transition milestones in some of the less prepared segments such as loan markets may be affected.

ESMA, the CFTC and the FCA have each indicated that financial firms can consider alternative mitigating steps in circumstances where call recording with clients is not possible.

The 'Pandemic Emergency Purchase Programme' will include purchases of public and private securities, including non-financial commercial paper and Greek sovereign bonds, until end-2020.

ESMA now expects trade repositories, credit institutions, investment firms to be ready for SFTR reporting from 13 July, alongside CSDs and CCPs.

The measures include liquidity facilities to help businesses, targeted asset purchases, and relaxed regulatory requirements for banks.

The FSA licence will allow Japanese financial institutions to combine their listed and OTC euro yield curve businesses in one single place, Eurex says.

The EBF identifies four priorities that need to be addressed, from which it has formulated 20 concrete policy recommendations detailed in the blueprint.

The Economic Crime Levy is expected to come into force in the next 2-3 years to raise money for new technology for law enforcement and to hire more financial investigators.

The FCA proposes to require companies with a UK premium listing to either make climate-related disclosures consistent with the TCFD recommendations, or explain their non-compliance.

The best practice matrix is aimed at providing an agreed and standardised market guide for firms to use to comply with EMIR trade reporting requirements.