Financial Services Regulation

This network is for financial professionals interested in staying up to date on financial services regulation happening anywhere in the world. CFOs, bankers, fund managers, treasurers welcome.

Retired Member 

ESMA advice on fees for trade repositories

The European Securities and Markets Authority (ESMA) has published its advice to the European Commission following feedback received from the February consultation paper. The advice sets out the fees structure that ESMA will use to charge Trade Repositories (TR) in order to recover all expenditure relating to registration and supervision of TRs a...

16 April 2013

Retired Member 

Short selling regulation updates by ESMA

The European Securities and Markets Authority (ESMA) has published the responses received to its consultation on short selling and certain aspects of credit default swaps. ESMA received 35 responses across all sectors including from exchanges and trade associations together with a number of regulated firms. ESMA will now publish its advice to th...

12 April 2013

Retired Member 

European Commission initiatives for 2013

The timetable of legislative proposals from March to December 2013 has been published. The Securities Law Regulation intended to reduce divergence between national laws on book entry securities is now due to be adopted in June 2013. The fees due to be charged on trade repositories by regulators in the second quarter of 2013. RELATED LINK http:...

11 April 2013

Retired Member 

ECON coherence of EU financial services regulation

As part of the transition to the single financial services rulebook, the Economic and Monetary Affairs Committee (ECON) of the European Parliament has published a public consultation asking: whether there are areas of EU financial services legislation (whether in force or proposed) which contain overlapping requirements, any incoherence in transpo...

10 April 2013

Retired Member 

FSA consults on power to publish warning notice information

The FSA has published this consultation which will allow it to publish information about the subject matter of a warning notice if it considers appropriate. This is considered “a real departure from the previous regulatory regime and a bold move towards more transparent and open regulation”. The power to publish a warning notice is restricted to...

09 April 2013

Retired Member 

ASIC trade repository rules

The Australian regulator, the Australian Securities and Investments Commission (ASIC), has publishedconsultation on draft rules and regulatory guidance to establish a trade repository regime implementing its G20 commitments. The consultation paper sets out proposals for the licensing of derivative trade repositories or data warehouses which maint...

09 April 2013

Retired Member 

Regulatory Issues Raised By Changes In Market Structure

The International Organisation of Securities Commissions (IOSCO) published a consultation paper on the regulatory issues raised by changes in market structures. The 46 page paper seeks to gather evidence to develop recommendations to promote: market liquidity and efficiency; price transparency; and investors’ execution quality in a fragmented env...

08 April 2013

Retired Member 

FCA Business Plan published emphasising market abuse

The Financial Conduct Authority (FCA) business plan sets out how these risks will be managed in its first year of operation and how it will use its resources effectively to meet its objectives, which are to: secure an appropriate degree of protection for consumers; protect and enhance the integrity of the UK financial system; and promote effective...

08 April 2013

Retired Member 

ESMA publishes new EMIR Q and A

The European Securities and Markets Authority (ESMA) has published a new Q&A on the European Markets Infrastructure Regulation (EMIR) to promote common supervisory approaches on the application of EMIR. The Q&A are split into the following sections: OTC derivatives - including definitions of OTC contracts, the notification and calculation...

05 April 2013

Amit Agrawal NA at in transit

Women Bank - Innovative concept

P Chidambaram’s budget (Indian Finance Minister) gave the biggest surprise in his Budget speech by announcing a public sector bank exclusive for women. Currently in India as per 2012 World Bank Study, only 26% of women in India have an account with a formal financial institution. It is known fact in India women are discriminated against the loan gi...

04 April 2013 /retail