In the current period of post-Brexit limbo, questions are being asked over the fate of impending European regulations such as the Markets in Financial Instruments Directive II (MiFID II) which is due to come into force in 2018. While tempting to push it down the agenda — it has been continually delayed — financial institutions… Read More >>
Brexit Roundup: A Leave Vote is Bad for the U.S.
(Editor’s note: As the U.K. votes today on whether or not to stay with the E.U., FTF News decided to pull together some predictions and reactions from this side of the pond. All of the quoted material is available online for further investigation.) SIFMA Roundtable Predicts U.K. to Stay In a statement dated June 14,… Read More >>
ESMA Explores Blockchain’s Risks and Promise
It was only a matter of time before regulators wanted to lift the lid on blockchain and look deeper into the potential opportunities and challenges in the financial services sphere. The European Securities and Markets Authority (ESMA), an EU financial services watchdog, is throwing down the gauntlet with its recent discussion paper for public consultation… Read More >>
Brexit Would Breed Chaos for London Firms: Report
With the European Union Referendum just over a month away on June 23, the arguments are flying fast and furious on both sides. For the undecided it is difficult to decipher the rhetoric but there is no doubt that leaving will plunge the country and the region into the world of the unknown and potentially… Read More >>
European Regulators Clash Over Payouts for Fund Managers
The European Securities and Markets Authority’s (ESMA) final guidelines on remuneration that are part of the investment vehicle regulations known as the Undertakings for Collective Investments in Transferable Securities, aka UCITs V, was supposed to provide clarity when determining a fund manager’s pay package. However, certain aspects remain unclear, especially when it comes to the… Read More >>
Brexit Fever Spurs Uncertainty, Dire Predictions
To leave or not to leave the European Union — that is the Brexit question. The United Kingdom is currently gripped by Brexit fever with campaigners on either side warning of dire consequences. The arguments are not new and the same heated debates were heard before when the country mulled joining the euro in the… Read More >>
MiFID II: All Trading Calls Must Be Recorded
(Editor’s Note: One of the more underreported aspects of the Markets in Financial Instruments Directive/Regulation (MiFID II) is the voice recording requirements. Greg Kenepp, president of Cloud9 Technologies, a cloud communications service provider, has been focused on these forthcoming requirements, which are likely to turn out to be more challenging than most operations professionals think…. Read More >>
Credit Suisse Moves U.K. Prime Services to Greener Pastures
Although Britain mulling an exit from the European Union (Brexit) may be a motivating factor for many companies to leave the U.K. if the population decides to head for the European door, the decision for Credit Suisse to move its U.K. prime brokerage operations to Dublin was part of a long-term plan, according to a… Read More >>
‘Brexit’ Woes Start to Ripple Through Markets
Britain will be holding a referendum to allow the citizens of the United Kingdom (U.K.) to decide whether or not to stay as part of the European Union (E.U.), an effort that is like to cause many ripples in global financial markets before the definitive vote on June 23. The potential British exit, or Brexit,… Read More >>
SIFMA and Others Have Warning for T-TIP Negotiations
Financial services trade association and lobbyist SIFMA and similar groups in Europe have weighed in on the Transatlantic Trade and Investment Partnership (T-TIP) deal between the U.S. and E.U., and they want better regulatory cooperation to avoid any further market fragmentation. The T-TIP has not gotten the same amount of attention as the controversial Trans-Pacific… Read More >>
