Financial MarketsRSS

Regulators sow confusion by conjuring up conflicting ‘crypto’ rules

Crypto-currencies and assets have taken the world by storm and at such a pace that regulators have not been able to keep up. However, the rush to stay on top is seeing a raft of conflicting rules and definitions springing up across jurisdictions. By Dan Barnes

Bloomberg trade repository registration withdrawn while DTCC registers new one

While Bloomberg Trade Repository Ltd (UK) has had its registration withdrawn, DTCC Data Repository (Ireland) PLC has been registered as an EU trade repository, said the European Securities and Markets Authority (Esma) in two separate statements.

HKMA tells authorised institutions to prepare for alternative rates

The Hong Kong Monetary Authority (HKMA) wrote a letter on March 5 to authorised institutions (AIs) urging them to prepare for alternative reference rates to replace the Hong Kong interbank offered rate (Hibor).

EU gives benchmark providers another two years to comply with BMR

The EU authorities have given providers of critical benchmarks another two years until December 31, 2021 to comply with the benchmarks regulation (BMR).

ASIC engages business school to assess MiFID II impact on asset managers

The University of New South Wales Business School has been asked by the Australian Securities and Investments Commission (ASIC) to find out how Australian fund managers might be affected by the EU’s Markets in Financial Instruments Directive (MiFID II).

CSAR calculated rate is best alternative to Libor - Crisil

The adjusted risk free rate (RFR) based on the compounded setting in arrears rate (CSAR) is statistically the most robust fallback alternative to the London Interbank Offered Rate as it most closely reflects Libor market conditions.

Houses of Parliament

CCPs geared for ‘no-deal’ Brexit, but other markets could suffer

A UK parliamentary committee has been told that CCPs are well prepared for a ‘no-deal’ Brexit scenario with regulators having put forward viable contingency plans. However, for much of the rest of the financial ecosystem, uncertainty persists. By Justin Pugsley.

PBoC sets up macro-prudential bureau to curb systemic risks

China’s central bank has established a new macro-prudential management bureau with a view to improving the detection and management of systemic risks in the financial system

SEC ponders alignment with EU on investment research funding

Under industry pressure, the SEC is considering allowing EU rules over research unbundling to be applied in the US

Iosco consults on improving sustainable finance in emerging markets

Iosco is consulting on a series of recommendation to improve sustainable finance and the operation of capital markets in developing countries