1 - 2017 - Planet Compliance

FCA fines Deutsche Bank £163 million for serious anti-money laundering controls failings

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The Financial Conduct Authority (FCA) has today fined Deutsche Bank AG (Deutsche Bank) £163,076,224 for failing to maintain an adequate anti-money laundering (AML) control framework during the period between 1 January 2012 and 31 December 2015. This is the largest financial penalty for AML controls failings ever imposed by the FCA, or its predecessor the …

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ESMA updates Q&As on MiFID II transparency and market structure topics

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The European Securities and Markets Authority (ESMA) has updated two Questions and Answers (Q&A) documents on implementation issues relating to transparency and market structure topics under the revised Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR). Transparency Q&A: Systematic Internalisers MiFID II/ MiFIR extends the Systematic Internaliser (SI) regime to other equity-like instruments, …

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ESMA consults on future guidelines for portability between trade repositories

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The European Securities and Markets Authority (ESMA) has put for public consultation future guidelines on the transfer of data between trade repositories (TRs) authorised in the European Union under the European Market Infrastructure Regulation (EMIR). There are currently six authorised TRs within the European Union which record the records of derivative transactions and which are …

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ESMA advocates common principles for setting up share classes in UCITS funds

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The European Securities and Markets Authority (ESMA) has today issued an Opinion on the extent to which different types of units or shares (share classes) of the same UCITS fund can differ from one another, having found diverging approaches in different EU countries. UCITS can be sold to retail investors throughout the EU. However, there …

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ESMA publishes new Q&A on Alternative Performance Measures Guidelines

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The European Securities and Markets Authority (ESMA) has published a new Questions and Answers (Q&A) document, comprising six questions, on the implementation of its Guidelines on the Alternative Performance Measures for listed issuers. An alternative performance measure is a financial measure of historical or future financial performance, financial position, or cash flows, other than a …

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The Future of Compliance Jobs

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What every Compliance professional has to consider now “I’ve seen the future of Compliance and it ‘s not looking good for my profession.” – Head of Compliance for an International Bank after attending a RegTech presentation. I had meant to write this article for a while now and started drafting yesterday, so it was a …

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AMF publishes a study on behaviour of high-frequency traders

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The Autorité des Marchés Financiers (AMF) has published a detailed analysis of the activity of market participants engaged in high-frequency trading (HFT) on CAC 40 stocks, with focus on their presence in the order book, how they provide and consume liquidity and how their behaviour changes during periods of intense stress. Over the last few …

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US regulator reports on DLT and the Implications of Blockchain for the Securities Industry

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The U.S. Financial Industry Regulatory Authority (FINRA) today published a report on Distributed Ledger Technology and the implications of Blockchain for the Securities Industry. This paper provides an overview of distributed ledger technology, highlights some key applications being explored in the securities industry and potential impact of the technology, and discusses key implementation and regulatory considerations …

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ESMA issues briefing on transaction reporting requirements under MiFID II

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Toward the end of 2016, ESMA published guidelines for transaction reporting under the Markets in Financial Instruments Directive (MiFID II) and Regulation(MiFIR). Additionally, ESMA released technical requirements and templates further detailing the relevant reporting requirements under MIFID II and MIFIR. MiFID II and MiFIR increases the scope of regulatory requirements on reporting entities in the …

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RegTech and Regulators or the Sandbox isn’t for everyone

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As a subset of its bigger sibling FinTech, RegTech was going to attract the attention of regulators sooner or later. Since the main objective of Regulatory Technology is to help financial institutions with the regulatory burden, it should a good thing when authorities and firms work together. What would be more obvious then to apply …

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January 2017

FCA fines Deutsche Bank £163 million for serious anti-money laundering controls failings

ESMA updates Q&As on MiFID II transparency and market structure topics

ESMA consults on future guidelines for portability between trade repositories

ESMA advocates common principles for setting up share classes in UCITS funds

ESMA publishes new Q&A on Alternative Performance Measures Guidelines

The Future of Compliance Jobs

AMF publishes a study on behaviour of high-frequency traders

US regulator reports on DLT and the Implications of Blockchain for the Securities Industry

ESMA issues briefing on transaction reporting requirements under MiFID II

RegTech and Regulators or the Sandbox isn’t for everyone

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