EUROPE

Market Infrastructure

European Commission Launches MiFID II Review

By Editors | 20/02/2020

The introduction of a consolidated tape and enhancements to investor protection are high priority items in the review.

Market Infrastructure

India Cabinet Approves SEBI-FCA Updated AIFMD MoU

By Editors | 20/02/2020

The updated MoU substitutes references to EU legislation with the relevant UK law, pursuant to the UK’s exit from the EU on 31 January.

Market Infrastructure

ESMA Seeks BMR Exemptions for Noncritical, Third-country Benchmarks

By Manesh Samtani | 18/02/2020

ESMA says BMR’s wide scope has led to an unintended consequence whereby third-country benchmarks are not incentivised to keep providing their benchmarks in the EU.

AML / KYC

EBA Consults on Revised ML/TF Risk Factors Guidelines

By Editors | 07/02/2020

The proposed changes will significantly strengthen Europe’s AML/CFT defences and foster greater convergence of supervisory practices, the EBA says.

Securities / Derivatives

Thailand, Luxembourg Explore Financial Market Cooperation

By Editors | 04/02/2020

Thailand’s SEC and LuxSE have discussed cooperation to promote sustainable finance, while also agreeing to explore the creation of a trading link between the two countries.

Market Infrastructure

ESMA Consults on New Standards for Third-Country Investment Firms

By Editors | 03/02/2020

The new Investment Firms Regulation (IFR) and Directive (IRD) will require third-country firms providing investment services and activities in the EU to report granular information to ESMA.

Market Infrastructure

FCA Issues Guidance on Brexit Transition Period

By Manesh Samtani | 31/01/2020

During the 11-month transition period, EU law will continue to apply in the UK, including passporting arrangements and consumer rights protections.

S. Korea Regulatory Framework for Banks Deemed EU-Equivalent

By Editors | 24/01/2020

EU credit institutions can apply preferential risk weights to relevant exposures to entities located in Korea, effectively reducing the capital requirements associated with such exposures.

Market Infrastructure

UK Regulators Set Key LIBOR Transition Deadlines

By Editors | 17/01/2020

Market makers have until 2 March to adopt SONIA as the market convention for issuing sterling interest rate swaps, and until Q3 to end all new issuances of LIBOR-based cash products.