Markets in financial instruments directive (Mifid)
FCA details Mifid onshoring process post-Brexit
UK regulator has built equivalent systems to ensure firms can continue with Mifid reporting
Basel rules force small countries to face irrelevant risks – Bahamas governor
Stress-testing parameters irrelevant for many small jurisdictions, Rolle says
Hong Kong mandates use of legal entity identifiers for OTC derivatives
LEIs will be mandatory for some firms from April 1, 2019
FCA prepares crackdown on inaccessible Mifid data
UK regulator says approved publication arrangements not observing spirit of the rules
Mifid transparency has failed so far, say traders
Poor-quality, inaccessible data and the lack of instruments covered undermine use case
Platforms win small on Mifid day one
Some dealers stopped quoting bilaterally on smaller bond trades
Irish central bank updates minimum competency standards
Mortgage institutions must give board members annual training; the move brings regulations into line with updated European laws
Esma calls for greater powers over national supervisors
Supervisor also wants the authority to pause the application of some rules
EC: regulators could adapt rules to protect bond liquidity
Official recognises regulatory hit to corporate bond and repo markets, but rejects Mifid delay
Evaluating big data capabilities in central banking
Central Banking convened a panel of experts to discuss how big data can add value to central banking in the near term, the need for good governance, and balancing the pros against the cons
Irish central bank issues first fine under ‘related parties’ code
Case is first brought under code governing deals with “related and connected parties”
European commercial bond market may suffer from lack of liquidity, ESRB says
Banks complain of effect of European regulations on liquidity; reporting on European fixed income markets still has “significant information gap”
Europe’s regulatory challenges seen increasing in wake of ‘Brexit’
The UK’s possible departure from the European Union could intensify regulatory problems in region, one analyst says; Mifid and European Banking Authority may be key areas of concern
Esma criticises European Commission plans for regulating NFCs
“Significant drawbacks” present in European Commission’s proposed approach to regulating non-financial corporations’ derivatives transactions, European Securities and Markets Authority argues
Bank of England seeks global consensus on ‘fair and effective’ markets
Review aims to fix outstanding issues with market structure and conduct; Minouche Shafik says the central bank is working with others globally to build a consensus
FTT would ‘drain financial resources’, says forex lobby group
The global forex division of the Global Financial Markets Association is upping its lobbying efforts to have forex derivatives carved out of the financial transaction tax with new research that shows the potential impact of the tax on transaction costs
Central Bank of Ireland slams ‘poor’ investment firm practices
Inspections by Central Bank of Ireland identify inadequate best execution practices by investment and stockbroking companies; requires remedial action by August 31
Wright secures top secretariat job at Iosco
European Commission veteran David Wright is leaving academia to become the new secretary general of the International Organization of Securities Commissions