Month: October 2016

Money Laundering Regulator to reach out to the FinTech / RegTech communities

As part of its plenary meeting earlier this months, the Financial Action Task Force (FATF) declared it would reach out to the FinTech / RegTech communities. FATF acknowledged that Technology-based innovations are rapidly changing the financial industry, introducing efficiencies and providing alternatives for traditional financial products.  Consequently, it is important for the FATF to engage with the FinTech/RegTech …

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EBA recommends a measure based on total liabilities as the target level of resolution financing arrangements

The European Banking Authority (EBA) published today its final report on the reference point for the target level of national resolution financing arrangements. In the report, the EBA recommends changing the basis from covered deposits to a total liabilities-based measure and, in particular, total liabilities (excluding own funds) less covered deposits. The proposed methodology would …

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The impact of high-frequency trading on German capital markets

The German Bundesbank recently published a report on high-frequency trading and its impact en German capital markets. Following the increase of algorithmic trading over the last 10 years on international stock markets and considering the limited availability of reliable data, the German National Bank has conducted intensive research to gain a better understanding of the …

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FATF updates on Terrorist Financing in West and Central Africa

Today the Financial Action Task Force (FATF) published a report on Terrorist Financing in West and Central Africa. This joint FATF-GIABA-GABAC report reveals a number of terrorist financing threats and vulnerabilities that are specific to the West and Central Africa region, and highlights the role of cash, including foreign currency. The report looks at the contextual factors …

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EBA reviews its guidelines on internal governance

The European Banking Authority (EBA) launched today a public consultation on its revised Guidelines on internal governance. These draft Guidelines aim at further harmonising institutions’ internal governance arrangements, processes and mechanisms across the EU, in line with the new requirements in this area introduced in the Capital Requirements Directive (CRD) and also taking into account …

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IOSCO reports on implementation of G20/FSB recommendations to strengthen securities markets

The Board of the International Organization of Securities Commissions (IOSCO) today published a report on the implementation of the G20/FSB post crisis recommendations aimed at strengthening securities markets. The Implementation Report: G20/FSB Recommendations related to Securities Markets was prepared by IOSCO’s Assessment Committee, as part of its G20 Markets Reform Review Project. This effort involved …

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EU regulators consult on guidelines on the assessment of the suitability of senior staff

The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) launched today a consultation on Guidelines on the Assessment of the Suitability of the Members of Management Body and Key Function Holders (the Guidelines). The draft Guidelines aim at further improving and harmonising suitability assessments within the EU financial sectors and so …

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Brexit, Passporting for Financial Firms and what all the fuss is about

When talking about Brexit, the UK’s decision to leave the European Union in a way and at a point in time yet to be determined, one of the key discussion points is that financial firms fear to loose their passporting rights. As with many Brexit discussions before and after the vote, there always seems to …

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ESMA issues MiFIR reporting instructions

The European Securities and Markets Authority (ESMA) has issued detailed reporting introductions and XML schemas under its Financial Instruments Reference Data System (FIRDS). FIRDS covers the Markets in Financial Instruments Regulation (MiFIR) and the Market Abuse (MAR) requirements for reference data collection and publication, collection and processing of additional data to support the MiFIR transparency …

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