All regulation news

FCA hits ED&F Man Capital with £17.2m fine for its role in facilitating cum-ex trades

06 June 2023 UK
Reporter: Bob Currie

This is the fourth penalty applied by the UK regulator and the largest that it has applied to date relating to div arb violations. MCM qualified for a 30% reduction under the Settlement Discount Scheme since it did not dispute the FCA's charges

ESMA releases its fifth CCP stress testing exercise

01 June 2023 EU, UK
Reporter: Bob Currie

In line with ESMA’s legal mandate under EMIR, this exercise will assess the resilience of CCPs to adverse market shocks and the danger that failure of a CCP or clearing member can propagate risk across the financial system

Archegos and gilts crisis motivates tighter FCA scrutiny of non-bank financial intermediaries

22 May 2023 UK
Reporter: Bob Currie

Prompt action is necessary to enhance reporting from NBFIs and to establish better data for monitoring leverage and risk concentrations, according to the UK financial regulator

SEC proposes rule changes for US clearing houses

18 May 2023 US
Reporter: Bob Currie

The US Securities and Exchange Commission has targeted rule amendments that aim to strengthen resilience, recovery and wind-down procedures for clearing agencies

Regulatory reporting “only going to intensify”, Securities Finance Technology Symposium panellist says

09 May 2023 US
Reporter: Lucy Carter

Regulatory reporting is a “critical” aspect of business that firms need to be paying attention to, speakers on the ‘Regulatory Reporting: Rewrite, reform, refit’ panel at this year’s Securities Finance Technology Symposium in Boston agreed

Delta Capita partners with Reg X Innovations for regulatory services

03 May 2023 US
Reporter: Jenna Lomax

The new platform will process data from trading platforms and trade repositories to analyse reportable fields and data reporting errors

FSOC proposes extension of risk controls over non-bank financial institutions

25 April 2023 US
Reporter: SFT

The US Financial Stability Oversight Council has proposed rule changes that may tighten financial scrutiny of non-bank financial companies if they are deemed to present a threat to financial stability

European Parliament votes in favour of MiCA

20 April 2023 EU
Reporter: Bob Currie

Members of the European Parliament today voted to support the Markets in Cryptoassets Regulation by 517 votes to 38, with 18 abstentions, thereby approving a common rule set for issuance and trading, along with environmental and consumer protection

Kaizen Reporting buys compliance solutions specialist Red Deer

19 April 2023 UK
Reporter: Bob Currie

The acquisition will add Red Deer’s surveillance and research capability to the Kaizen hub, assisting middle office and compliance divisions in identifying cases of market abuse and meeting regulatory commitments

DSB launches Unique Product Identifier User Acceptance Test service

17 April 2023 UK
Reporter: Carmella Haswell

The service aims to support industry readiness and implementation of UPI regulatory mandates in derivatives markets, including amendments to the US Recordkeeping and Swap Data Reporting, EU EMIR Refit and UK EMIR

BoE and CFTC reinforce mutual supervision of cross-border CCPs

14 April 2023 US, UK
Reporter: SFT

Based on the 2020 MoU between the BoE and CFTC, the BoE has affirmed that it will continue to rely on CFTC’s supervision and oversight in the case of US-based CCPs that are “incoming” to the UK

Trade associations respond to PRA Basel Consultation

04 April 2023 UK
Reporter: Bob Currie

Industry bodies including ISDA, AFME and ISLA have published responses to the Prudential Regulatory Authority consultation on Basel 3.1 standards, warning against the impact of “disproportionate capital costs” on financing, liquidity and hedging

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