Financial Conduct Authority (FCA)
EU Gets Tough on ‘Research’ Unbundling
Mifid II will force sell-side firms to unbundle research fees from dealing commissions they charge to buy-side clients. The banks claim their front-office notes meet the criteria of being a minor non-monetary benefit, but EU watchdogs aren’t convinced,…
Systematic Internalizer Ranks Swell Ahead of Mifid II
While buy- and sell-side firms grapple with the reporting obligations imposed on so-called systematic internalizers under Mifid II, the number of registered SIs continues to grow. Jamie Hyman investigates why more firms are opting in to the designation…
FCA Likely to Review Consolidated Data in 2018
It is looking increasingly likely that no consolidated tape provider will be authorized by the time Mifid II comes into force Jan. 3; regulators call lack of authorized CTP an “ongoing issue.”
Solvassure Unveils GDPR Compliance Platform
The regtech firm has released a platform designed for compliance with the General Data Protection Regulation and the Accountability Regime.
FCA: Mifid II Enforcement Starts Jan. 3, Will Be Targeted
UK regulator's Mifid coordinator underscores message from European Commission earlier this month: no further delays to deadline. However, enforcement will be targeted.
Merrill Lynch Slapped with $45 Million FCA Fine for EMIR Reporting Failures
First enforcement action under EMIR taken by UK financial watchdog over exchange-traded derivatives reporting.
Regulators 2.0: Embrace Tech or Be Overwhelmed by Data
To handle the massive increases in data volumes expected from Mifid II regulation and the US Consolidated Audit Trail, regulators are examining their own data governance and technology use, report Joanne Faulkner and Kirsten Hyde.
Bloomberg, Trax, LSE Among First Approved as ARMs
Financial Conduct Authority has started issuing approvals to entities that applied to act as ARMs under Mifid II.
The Insecurity of Security
Lingering questions remain over the SEC's handling of its own cybersecurity incident.
FCA Enhances Technology Firepower and Warns on Mifid II
The regulator says that it cannot create a layer of permitted compliance below European standards.
R3, FCA Collaborate on Mortgage Transaction Reporting DLT Prototype
R3 has built a prototype application for regulatory reporting of mortgage transactions with the help of the FCA and two major banks.
Buy Side Readiness for Mifid II Measured by Inches, Not Miles
Surveys of asset managers find disparate levels of readiness for new regulations among the buy side.
FCA Grants First Raft of APA Approvals for MiFID II Reporting
Six entities have been officially approved by the Financial Conduct Authority to act as APAs under MiFID II.
A Costly Race to MiFID II Reporting Compliance
Trade reporting and publication mechanisms are a key part of the new MiFID II legislation. So why are alarming numbers of firms yet to choose their providers? With a last-gasp sprint on the cards in a crowded field of participants, Jamie Hyman…
When It’s Brexit or Mifid II, Banks Must Look at Regulation First
The implications of Brexit can wait; Mifid II is a much more prescient concern for sell-side institutions, not just in Europe.
The More Things Change
Regulators may be about to call the industry's bluff on Mifid II time pressures
FCA Puts Libor on Notice for 2021 Phase-Out
UK regulator puts scandal-hit benchmark on notice as industry examines alternative rates
Waters Wavelength Podcast Episode 79: IBM's Major Moves & FCA Worries about Mifid II Readiness
IBM makes headway with blockchain and encryption services; the FCA's Stephen Hanks says firms need to make decisions about their ARMs and APA providers soon.
FCA Worried by Lack of Readiness for MiFID II Reporting
UK watchdog accepts “scale of the challenge” but urges firms to “crack on” with putting data reporting apparatus in place
Bloomberg Latest to Receive FCA ARM Nod
Bloomberg gets FCA approval to test transaction reporting capabilities under MiFID II
The Wind of Change
Asset managers are facing a stark choice between technology investment or obsolescence.
NEX Group Launches Dual-Regulated SEF for FX Futures
NDF trading platform will add new products and services by year-end, and is regulated by both the CFTC and FCA.
Waters Wavelength Podcast Episode 77: A Look at Mifid II Developments & the Use Cases for Behavioral Analytics
This week, Anthony and James take a look at recent developments pertaining to Mifid II and then they talk about how firms are increasingly turning to behavioral analytics platforms to better examine trading decisions.
FCA Clarifies Approach to Research Unbundling under Mifid II
Amendments to rules on best execution and investment research confirmed by regulator for UK firms ahead of January 2018 implementation date.