How has the coronavirus shifted the balance of the European ETF market?

By Cherry ReynardSeptember 14, 2020, Portfolio AdviserAt the start of this year, Morningstar predicted that the European ETF market could hit €1trn by the end of 2020 and €2trn by 2024. It based this view on the four-fold expansion...

MEPs call for ESNs as part of new CMU drive

By Tyler DaviesSeptember 11, 2020, GlobalCapitalMEPs have asked the European Commission to come up with a legislative proposal for a new class of bank debt, known as ‘European Secured Notes’, as they push the executive to fast track its...

Europe’s left out 1% can get equal Argentina debt terms: official source

By Marc Jones and Eliana RaszewskiSeptember 11, 2020, ReutersArgentina will give the mainly European-based 1% of investors left out of its recent debt restructuring the chance to sign up on the same terms as the other 99%, an economy...

AFM seeks to ‘level playing field’ for venues and vendors

By Samuel WilkesSeptember 10, 2020, RiskThe Dutch Authority for Financial Markets is calling on the European Union to straighten out a perceived imbalance in its trading and transparency rules – a move that could lead to certain technology providers...

Energy exchanges call for Mifid II adjustments

By Wendy LisneySeptember 10, 2020, Global Investor GroupThe European Union must provide a regulatory framework that does not encourage market participants to shift their power and gas derivatives business to third country jurisdictions, or outside regulated trading venues, a...

Blast from the Past: Brexit to spark Mifid III, warns former MEP Swinburne

By David Ricketts and Samuel Agini December 16, 2019, Financial News Get ready for Mifid III. City companies have barely got to grips with a significant overhaul of Europe’s trading and investor protection framework, known as Mifid II, but...

Best practice: Mifid II/Mifir, trading and transparency

By Hugo Bromley September 4, 2020, Practice Insight from IFLR Every single trade in equities and derivatives is shaped, in some way, by Mifid II. The legislation has transformed the way firms trade, and placed huge new reporting obligations...

Investec talks corporate access: The ‘new normal’ will be a blended model

By Garnet Roach September 3, 2020, IR Magazine The recent results of what was formerly known as Extel’s UK Small & Mid-cap Survey, now published under the Institutional Investor brand, highlight how few firms make it to the top...

ESMA finds no material evidence of harmful impact of MiFID II unbundling

By Annabel Smith September 3, 2020, The Trade There is no material evidence of harmful effects from the MiFID II unbundling rules for research payments, the European Securities and Markets Authority (ESMA) has stated. The European regulatory watchdog made...

Dutch regulator calls for overhaul of MiFID II fixed income transparency rules

By Hayley McDowell September 2, 2020, The Trade The Dutch Authority for the Financial Markets (AFM) has recommended major changes to MiFID II’s rules for fixed income and derivatives trading in a recent study, which found the regulation’s focus...

‘Reckoning’ looms for fund management fees

By Imogen Tew August 28, 2020, FTAdviser There will come a “reckoning” for fund management fees as advisers continue to pressure the rest of the value chain, experts have predicted. Speaking on the FTAdviser podcast, Mark Polson, principal at...

Best practice: Mifid II and research revisited

By Hugo Bromley August 27, 2020, Practice Insight from IFLR Over two years after it was introduced, Mifid II research unbundling is back in the news. In response to the Covid-19 crisis, the European Commission has proposed an opt-out...

Financial sector faces uncertainty as UK and EU wrangle over MiFID II

By James King August 26, 2020, The Banker Negotiations over the future relationship between the EU and the UK are not going well. Only limited progress has been made on some of the thorniest issues, from fishing rights to...

EU markets rule shakeup may prompt regulatory divergence, complexity for firms

By Vanya Damyanova August 24, 2020, S&P Global Market Intelligence A proposal by the EU to amend new financial markets rules raises questions about regulatory divergence from the U.K. and may create more complexity for investment banks and asset...

ESMA Letter: AIFMD Revisions just the Tip of the Iceberg

By Adrian Whelan, Brown Brothers Harriman Originally published at the On the Regs blog “I didn’t have time to write a short letter, so I wrote a long one instead.” –Mark Twain We recently flagged the European Commission’s review...

Covid Could Cause US Regulators to Rethink Surveillance

By Rebecca Natale August 19, 2020, WatersTechnology At the height of the pandemic as the markets were rapidly fluctuating, US trading firms were having to both manage a remote workforce, as well as manage new types of compliance risks....

Lack of trading data hits ETF growth in Europe

By Robert Van Egghen August 21, 2020, Financial Times Exchange traded fund distribution in Europe is being hindered because market data providers have shown little interest in creating a shared database of equity prices and trading volumes, market participants...

Mifid II’s best execution reports may soon meet their demise

By Hugo Bromley August 21, 2020, Practice Insight from IFLR Mifid II’s RTS27 reporting requirements are likely to be suspended following a European Commission recommendation, and may be lifted entirely, according to industry participants speaking to Practice Insight. “The...

ESMA calls for cross-border clarity

By Wendy Lisney August 19, 2020, Global Investor Group The European Securities and Markets Authority (ESMA) has called on the European Commission to address a lack of clarity on how the cross-border activities of alternative investment fund managers (AIFMs)...

EU’s AI Regulations Could Lay Blame With CTO

By Joanna Wright August 18, 2020, WatersTechnology In ancient Mesopotamia, King Hammurabi turned Babylon into a city-state to be reckoned with. His famous code is one of the earliest legal frameworks that modern humans know of. Its 282 laws...

Time to take the lead

August 17, 2020, Funds Europe A lack of data standards and a surplus of complex local regulations are creating distribution challenges that only greater use of technology can solve. So says Daniel Häfele, founder and chief executive of ACOLIN,...

Brexit & Covid: Keep your eye on the ball

By Jannah Patchay August 11, 2020, The Desk In light of the current global Covid-19 pandemic, with the UK and much of Europe in varying forms of lockdown, and very much focussed on preserving national economies and interests in...

The webpage archiving blind spot that could cost City firms millions

July 22, 2020, bobsguide As reported by The Times earlier this month, many City firms have made substantial investments to install trading systems and recorded telephone lines in the homes of their traders during lockdown, all to meet compliance...

Brexit: financial services braces for life without equivalence

By Hugo Bromley August 13, 2020, Practice Insight from IFLR UK firms should prepare themselves for significant Brexit-related disruption ahead – and no equivalence – according to financial services sources speaking to Practice Insight. “The desire to diverge is...

Surprise! EU Plans MIFID Rollback to Aid Pandemic Recovery

By Adrian Whelan, Brown Brothers Harriman Originally published at the On the Regs blog Unexpected but welcome surprise Anyone can agree that 2020 has been a year that is far from usual. The onset of the novel coronavirus pandemic...

Buy side hopes for best execution reporting carve-out

By Ben St. Clair August 4, 2020, Risk The European Commission’s proposed rollback of best execution reporting has left some wondering why the carve-out stopped short of the buy side’s reporting obligations. The proposed amendments to the second Markets...

CFTC block trade plan gets cold shoulder

By Sharon Thiruchelvam August 3, 2020, Risk A Commodity Futures Trading Commission plan to revise US rules for block trades in swaps has drawn a cool response from the industry, with participants at an advisory committee providing feedback that...

Transparency vs clarity: the Mifid swaps conundrum

By Samuel Wilkes July 29, 2020, Risk Sometimes you just can’t do right for doing wrong – and regulators are no exception. As the European Securities and Markets Authority discovered when it tried to clarify Europe’s labyrinthine rules on...

Rosenblatt survey highlights buy-side disconnect with changes to MiFID II

By Hayley McDowell July 29, 2020, The Trade Buy-side market participants hold conflicting views on sweeping changes to MiFID II that were proposed by the EU markets regulator earlier this month, according to a recent snap poll from Rosenblatt...

‘A collective shrug’: industry reacts to Mifid II research reforms

By Hugo Bromley July 30, 2020, Practice Insight from IFLR After months of meetings and deliberation, the European Commission’s proposed reforms to Mifid II’s research unbundling framework will have very little impact on the market, and may not even...