The FCA informed that it welcomes the announcements made yesterday by the European Commission and the US Securities and Exchange Commission (US SEC) in relation to the MiFID II inducements and research reforms and their interaction with US regulation. Andrew Bailey, Chief Executive Officer at the FCA, said: I am grateful for the constructive conversations…
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The European Commission is proposing targeted reforms to further improve the financial stability of the European Union. Central counterparties (CCPs) from the EU are already well regulated and equipped to deal with financial distress, thanks to a raft of measures adopted in the wake of the financial crisis. However, further reforms to ensure a more…
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The European Commission has prohibited the proposed merger between Deutsche Börse AG and London Stock Exchange Group under the EU Merger Regulation. The Commission's investigation concluded the merger would have created a de facto monopoly in the markets for clearing fixed income instruments. The proposed merger would have combined the activities of the two largest…
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The European Securities and Markets Authority (ESMA) has written to the European Commission to raise its concern over the potential establishment of networks of systematic internalisers (SIs) by investment firms to circumvent certain MIFID II obligations; in particular, the requirements for investment firms operating internal matching systems and executing client orders on a multilateral basis…
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Today the European Commission has released legislation concerning recovery and resolution of Central Counterparties (CCPs). Following the post-crisis G20 commitment in 2010 by Heads of Government to centrally clear derivative products, this legislation looks to address the systemic risk created by concentrating risk into clearing houses. The legislation is the result of over 3 years…
Read moreLCH Group Limited has noted the European Commission’s announcement confirming the commencement of Phase II proceedings in connection with its review of the recommended merger of London Stock Exchange Group Plc (LON:LSE) and Deutsche Börse AG which was announced on 16 March 2016, and the subsequent announcement by LSEG regarding the potential sale of LCH…
Read moreThe European Securities and Markets Authority (ESMA) has issued today final implementing technical standards (ITS) regarding sanctions and measures which will implement the Market Abuse Regulation (MAR). The ITS prescribe how national competent authorities (NCAs) should notify ESMA annually of the investigations they conduct and the sanctions and measures imposed in their Member States under…
Read moreRules cover interest rate swaps denominated in euro, pounds sterling, Japanese yen or US dollars...
Read moreThe pan-European regulatory authority has produced a response form in order that industry participants may assist in the formation of new rulings on corporate responsibility toward market abuse in electronic trading
Read moreFIX Trading Community has pledged its commitment to working with ESMA on shaping rulings for institutional firms in the advent of Europe-wide trade execution rulings
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