21 April 2014

Stuart Clark

Stuart Clark - Impendium Systems

260 | posts 306,734 | views 0 | comments

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.

EU publishes MiFID II and MiFIR transaction reporting

26 February 2014  |  1037 views  |  0

The Council of the European Union has published the approved compromise text of the:

· proposed Markets in Financial Instruments Directive (MiFID II); and
· text of the proposed MiFID II Regulation (MiFIR).

Both documents are dated 17 February 2014.

MiFIR contains the extended transaction reporting requirements which apply to:
· all instruments traded on a trading venue; and
· financial instruments where the underlying is a financial instrument traded on a trading venue or where the underlying is an index or basket composed of financial instruments traded on a trading venue. The obligation applies whether or not such transactions were carried out on a trading venue.

The reports must identify the person who made the investment decision as well as those responsible for the execution of the trade. Double reporting is to be avoided and where a report made to a trade repository under EMIR contains all the required information, then a second report is not required.

Actions are assigned to the European Securities and Markets Authority under Article 23 to develop the regulatory technical standards to implement these obligations. The timetable for the delivery of these is not yet available.

On 19 February 2014, the Council announced that COREPER had approved the final compromise texts. The proposals will now have to be approved by the Parliament, so as to allow final adoption by the Council once the texts have been finalised in all languages.

Related link:
http://www.consilium.europa.eu/uedocs/cms_Data/docs/pressdata/en/ecofin/141071.pdf 

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Latest posts from Stuart

ESMA sets out supervisory monitoring of TRs under EMIR

17 April 2014  |  411 views  |  0  |  Recommends 0 GroupFinancial Services Regulation

FCA publishes Hedge fund report

15 April 2014  |  363 views  |  0  |  Recommends 0 GroupFinancial Services Regulation

FCA GABRIEL reporting system ready for CRD IV submissions

15 April 2014  |  416 views  |  0  |  Recommends 0 GroupFinancial Services Regulation

BCBS finalises approach of derivatives-related transactions

14 April 2014  |  496 views  |  0  |  Recommends 0 GroupFinancial Services Regulation

CFTC analyses data sent to trade repositories

14 April 2014  |  553 views  |  0  |  Recommends 0 GroupFinancial Services Regulation
name

Stuart Clark

job title

Product Development Director

company name

Impendium Systems

member since

2012

location

London

Summary profile See full profile »
Co-founded Impendium in 2006. Previously head of Client Services for Deutsche Banks top 100 cust...

Stuart's expertise

What Stuart reads
Stuart writes about

Who is commenting on Stuart's posts

Neil Crammond
Gary Wright