Financial MarketsRSS

ESMA launches formal investigation into tax withholding schemes

At the request of the European parliament, pan-EU regulators have looked into withholding tax reclaim schemes, often involving company dividends, and found that activity around these reclaims might be affecting the integrity of European securities markets and individual firms.

Stock exchange equivalence ceases between EU and Switzerland

On July 1, equivalence measures between the EU and Switzerland allowing investment firms from the two jurisdictions to freely trade shares on each others’ exchanges ceased.

SEC and CFTC collaborate credit swap portfolio margins

The US’s two main markets regulators are to work more closely together on how to better understand and manage portfolio margins in the credit derivatives market.  

SEC adopts rules amending requirements for swap market participants

New rules have been adopted by the US Securities and Exchange Commission (SEC) that amend capital, margin and segregation requirements under Title VII of the Dodd-Frank Act for security-based swap dealers and major participants.

Angelo Ranaldo

Regulatory reforms distorting central bank monetary policy

Basel III and Emir have unleashed a series of unintended consequences on repo markets, which are distorting monetary policy transfer mechanisms

Facebook

Facebook’s Libra could force rethink of some regulatory frameworks

The pending launch of Facebook’s digital currency threatens to disrupt some regulatory frameworks and if it succeeds it could even pose systemic questions creating even more challenges for regulators

William Yonge

Market participants lobbying over short Emir 2.1 timelines

Emir 2.1 contained some important changes requiring firms to make adjustments. However, the short timeline for implementing these changes has left many market participants unhappy 

David Clark

Brexit and economic realities keep CMU dream alive

The capital markets union could provide a significant boost to the EU’s economy, but still faces a host of national hurdles, not least the lack of a clear road map, before becoming a reality

Australian regulators press banks to act on Libor transition

Several CEOs of large Australian banks have received a joint letter from three Australian regulators urging them to plan for the end of the London interbank offer rate (Libor).

IOSCO consults on factors relating to regulating crypto-asset trading platforms

Many of the issues around regulating a crypto-asset depend on whether or not it is classified as a security said the International Organization of Securities Commissions (IOSCO), which is consulting on factors to consider when regulating crypto-asset trading platforms (CTPs).