Europe

Structural Regulation

UK FCA Fines Goldman for MiFID Transaction Reporting Failures

By Editors | 29/03/2019

Goldman has been penalised over $44mn for making over 220 million transaction reporting errors over 9.5 years. The fine is larger than UBS received earlier this month.

Trading & Investment

UK FCA Fines UBS for MiFID Transaction Reporting Failures

By Editors | 22/03/2019

Over 9.5 years, UBS AG made 135.8 million errors in its transaction reporting, over a third of which involved erroneously reported transactions which were not in fact reportable.

Clearing & Post-Trade

UPDATED – Bank of England Grants Recognition to Indian Clearing Corporations

By Editors | 20/03/2019

The Metropolitan Clearing Corporation of India is the first Indian clearing corporation to receive recognition from under the UK’s temporary recognition regime.

Liquidity Risk

British Banks Can Weather a No-Deal Brexit

By Manesh Samtani | 13/03/2019

While UK banks may not be fully ready to conduct business in EU jurisdictions, from a liquidity and capital point of view they appear well-positioned to weather a no-deal Brexit scenario.

Trading & Investment

Urgent Action Needed on UK Trading Venue Equivalence

By Manesh Samtani | 05/03/2019

ISDA, FIA and eight other industry bodies warn of the disruptive impact that would result if urgent action is not taken by EU authorities to recognise UK derivatives trading venues.

Emerging Prudential Risks

No-Deal Brexit to Have Little Impact on S. Korea, says FSS

By Editors | 22/02/2019

If the UK crashes out of the EU without an orderly exit deal in place, the damage to South Korea’s economy will be slight, according to the Financial Supervisory Service.

Trading & Investment

EU, Singapore Agree to Mutually Recognise Derivatives Venues

By Editors | 21/02/2019

Singapore and EU-based firms will be able to trade derivatives on approved platforms based in either jurisdiction following proposed equivalence decisions by both regulators.

Data Privacy

IOSCO Members, ESMA Can Exchange Information Post-GDPR

By Editors | 15/02/2019

A decision by the European Data Protection Board will enable the continued sharing of information between ESMA and securities regulators outside the EU, in compliance with GDPR.

Structural Regulation

SFTR: What Asian Financial Firms Need to Know

By Oliver Williams | 14/02/2019

Firms in Asia need to start preparing for the impacts SFTR will have on the way they manage their information flow when working with European counterparties, says DTCC’s Oliver Williams.