European Commission takes Spain and Slovenia to court over the failure to implement certain financial rules
Reporting and Governance
Regulators collaborate to form global fintech sandbox
Eleven regulators club together to launch global sandbox to foster shared experiences among participants and to help fintech firms scale up more quickly in several jurisdictions at once
ESMA consults on update to 2015 CRA guidelines
ESMA consults on guidelines on supervisory reporting by credit rating agencies
Traditional banks face up to fintech threat
The rise of fintech poses a threat to traditional banking with even the big tech giants taking an interest in the sector. However, despite banks suffering with siloed structures and often high costs, they should not be written off. By Justin Pugsley.
SEC proposes simplifying disclosure requirements for certain debt securities
The SEC is proposing to simplify rules on financial disclosure requirements for certain debt securities to encourage issuers to go down the registered route, which provides greater investor protection
OFR seeks comment for proposed data repo market reporting requirement
OFR seeks comment on its proposal to introduce a rule to collect data on US repo markets, though if immediately implemented would only impact one market participant
SEC to require alternative trading systems to improve transparency
Alternative trading systems in the US focused on stocks will have to produce more detailed disclosures so users can evaluate potential conflicts of interest and risks of their information being leaked
FSB consults on LEI adoption by member states
FSB conducting a thematic peer review on member adoption of legal entity identifiers and is seeking feedback from interested parties
Supervisors turn to automation to handle data deluge
Such are the growing demands in supervision, whether it be related to anti-money laundering or picking up market abuse, that regulators are being forced to turn to technology or ‘sup-tech’. By Dan Barnes.
Feedback sought on governance arrangements for OTC derivatives data
CPMI and Iosco seek feedback on governance arrangements for OTC derivatives data elements relating to UTIs and UPIs
