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ESMA MiFID II RTS1

SFTR Level III Briefing Note

Yesterday (27 May 2019), ESMA delivered its Consultation Paper for SFTR guidance in which it expressed its views, seeking industry comment. This ...

Protected: SFTR Q&A for Clients

There is no excerpt because this is a protected post. ...
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SFTR Period of Scrutiny Chaos – Where Same Means Different

Confusion reigns over the period of Parliament and Council scrutiny for the recently adopted level II SFTR legislation. Three months or one month? ...
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EU Commission Adopts SFTR Level II…Finally!

The European Commission (EC) at long last adopted SFTR level II legislation today in the form of 7 delegated regulations. We broke the news early ...
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ESMA declines SFTR amendment – What happens next?

On 4 September, ESMA formally rejected the European Commission’s (EC) request to make minor amendments to its draft SFTR level II legislation. ESMA ...
Parliament Brexit

Protected: BREXIT Bombshell to hit Financial Industry – EMBARGOED STORY

There is no excerpt because this is a protected post. ...
EC

SFTR – Commission will adopt ESMA’s RTS/ITS BUT…

For many months we have been writing both publicly and privately to our clients inviting them to ignore industry gossip about a greatly changed SFTR ...
GDPR Circle

GDPR: Police Requesting Personal Data – Disclose?

GDPR has legal force. What next? We were contacted by a prominent firm’s legal department seeking our opinion. The police sent them a request ...
SFTR RTS Delays

SFTR – Enforcement Action against the EU Commission

With regret, we announce we have commenced action against the European Commission (EC) for its failure to adopt or otherwise the SFTR RTS ...
SFTR RTS Delays

SFTR – Commission delays RTS adoption. But is it legal?

How long does the EU Commission legally have to adopt a regulatory technical standard (RTS)? Specifically, how long does the Commission have to ...
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FSB delivers Global Shadow Banking Monitor 2017

In my book SFTR: A Survival Guide, I explained the importance of monitoring FSB shadow banking reports if one is to truly understand the essence of ...
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SFTR – Collateral Reuse (rehypothecation)

Collateral Reuse – PILLAR III Reuse of collateral provides liquidity and enables counterparties to reduce funding costs. However, it tends to ...
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What is SFTR? A Whirlwind Tour of the 3 Limbs

What is SFTR? SFTR: Security Financing Transactions Regulation. Formally, Regulation (EU) 2015/2365on transparency of securities financing ...
ESMA Wall

Market FinReg reply to ESMA RTS 1, MiFID II

ESMA proposes to make amendments to RTS 1 of MiFID II related to extending the Tick Size Regime to Systematic Internalisers. This is to prevent a ...

Market FinReg. Forging ahead. At the Frontier of knowledge.