ESMA to suspend publication of vital MiFID II calculations in case of ‘no-deal’ Brexit
ESMA prepares for 'no-deal' Brexit with plans to temporarily suspend calculations for vital MiFID II rules including the SI regime, DVCs and bond liquidity.
Regulation
UK’s FCA forces further disclosure of fund performance and use of benchmarks
The latest set of rules introduced by the FCA come in response to its extensive asset management study which raised concerns about fund fees.
MiFID II SI regime for derivatives delayed for a second time until 2020
ESMA cites bad data but gives no further details on when the regime will be implemented for derivatives, other than it will be in 2020 at the latest.
Standard Chartered fined $40 million after rogue traders rigged FX transactions
FX traders at Standard Chartered were found to have used chatrooms to manipulate and coordinate trading activity.
MiFID II sees global equities trade execution rates decline
Analytics on average global commissions shows that rates have declined across developed and emerging markets.
Preparation already underway for next rounds of initial margin rules
With a new wave of initial margin rules on the horizon, BNY Mellon says clients are already more prepared.
Industry opposes regulatory intervention for periodic auctions
The EU financial regulator has published responses to its call for evidence, revealing that the industry is firmly behind the use of periodic auctions.
MiFID II research rules could spur further mergers on the buy-side
Deloitte's 2019 regulatory outlook report predicts burden of absorbing costs of research under MiFID II will reinforce trend of consolidation on the buy-side, particularly among smaller firms.
ESMA: Crypto platforms should trade under MiFID II rules
Platforms trading crypto-assets that qualify as financial instruments should be subject to the rules, but ESMA has advised a bespoke regime be implemented for firms trading crypto-assets outside of the MiFID scope.
Hayley’s Comment: Misguided intervention
Senior reporter Hayley McDowell examines ESMA’s investigations into periodic auctions and asks what it could mean for the future of trading post-MiFID II.