MiFID II goes global as buy-side implement global unbundling policies
Study from Liquidnet finds that more than half of asset managers have implemented a global policy for unbundling under MiFID II.
Regulation
REGIS-TR to open trade repository in the UK
REGIS-TR is awaiting regulatory approval to establish a trade repository in the UK to continue serving clients post-Brexit.
Buy-side evades FX Global Code of Conduct labelling it ‘regulation in disguise’
The Bank of England’s Andrew Hauser says that buy-side concerns with compliance remain an issue, with just 11 of the 30 largest buy-side firms agreeing to adoption.
CFTC adds four UK-based MTFs to SEF exemption list
With addition of four UK-based MTFs, the CFTC’s list of EU-based venues exempt from SEF registration now totals 20.
FCA says reported technology outages at firms has more than doubled
Technology outages reported to the FCA has surged 138%, with 18% of those incidents being cyber-related.
UK competition regulator investigates Nasdaq’s Cinnober acquisition
The UK’s Competition and Markets Authority has invited comment on Nasdaq’s proposed acquisition of Cinnober.
ESMA welcomes no-deal Brexit central clearing equivalence plans
The European Commission has said it will adopt temporary equivalence to ensure no disruption to central clearing in the case of no-deal Brexit.
More than half of firms are not producing MiFID II RTS 27 best ex reports
Research from Cappitech revealed that many firms are not producing RTS 27 reports, and 60% have no intentions to use the reports on execution quality internally.
ITG agrees to $12 million dark pool settlement
SEC hands ITG $12 million fine for disclosing information on client activity within POSIT to HFTs and misleading investors on how the dark pool operates.
Commerzbank to pay $12 million for swaps dealing violations
The US CFTC found that Commerzbank failed to supervise its swap dealing activities and made misleading compliance statements to the regulator.