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CSDR SDR in lockdown

ESMA has confirmed its intention to extend its delay of the CSDR’s Settlement Discipline Regime (SDR) until February 2022. An initial delay from the 13 September 2020 until 1 February 2021 was awaiting non-objection by the Parliament and Council to an earlier “Final” Report. This will now be superseded by a Final(er) Report on postponing […]

COVID-19 Regulatory update no. 6

Welcome to the sixth in our COVID-19 Regulatory update. Another relatively quiet period for COVID-19 related regulatory initiatives. With this in mind, forthcoming updates will be published on a fortnightly basis, or as and when sufficiently significant announcements are released.  

COVID-19 Regulatory update no. 5

Welcome to the fifth in our weekly COVID-19 Regulatory update. A relatively quiet week in terms of new COVID-19 related regulation. The FCA has announced that it will be sending out weekly updates on COVID-19 for those interested, as well as clarifying the scope of SM&CR.

COVID-19 Regulatory update no. 4

Welcome to the fourth in our weekly COVID-19 Regulatory update series produced early for the Easter bank holiday. A relatively quiet week for COVID-19 financial regulation. The most significant item being the rapid adoption of BCBS guidelines by MAS (Monetary Authority of Singapore) who adopted the deferred deadlines for Basel III reforms and IM Phase […]

COVID-19 Regulatory update no. 3

Welcome to the third in our weekly COVID-19 Regulatory update series. Another significant week for COVID-19 financial regulation- BCBS announced the deferral of Basel III implementation and on Friday evening issued a 1 year extension to the IM Phases 5 and 6 deadlines.

COVID-19 Regulatory update

In order to manage the impact from COVID-19, regulators are announcing a number of measures and reliefs to help firms deal with the disruption caused by the virus. Last week, we did a preliminary post with some of the steps that regulatory bodies have taken with regards to wholesale financial regulation, and the table below […]

EC says IM full speed ahead

Risk magazine (subscription) reports an email statement from Patrick Pearson, head of the financial market infrastructure and derivatives unit at the EC, that there are no plans to delay Phases 5 and 6 of IM. “The amendments to the current regulatory technical standard on margins to implement the internationally agreed timeframe are currently in the […]

Coronavirus- Initial Regulatory Responses

As the industry prepares to deal with the unprecedented and rapidly changing problems posed by the COVID-19 pandemic, a number of regulators have taken action. ESMA The European Securities and Markets Authority (ESMA) has taken measures to relieve the reporting burden on counterparties that are subject to the Securities Finance Transactions Regulation (SFTR). The 13 […]

CFTC keeps on KISS-ing

The CFTC is back with another proposal to refine the spirit of Dodd-Frank Regulations and amend real-time public reporting regulations. Chairman Tarbert opened his speech by stating that data is ‘the lifeblood of our markets’ and went on to essentially outline the CFTC’s new vision for how this this data should be delayed. Under Commodity […]

Another week, another regulator falls in line

The latest IM deadline passed at the start of this month without fanfare, and larger firms were able to breathe their fourth sigh of relief. A year from now, the challenge will not be as “easy”. In Phase 4, approximately 35 firms fell in-scope of the €750 bn threshold. Updated numbers for Phase 5 show […]

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