Reports of suspicious transactions and orders surge under MAR
ESMA has called for greater supervision of STORS under MAR, as number of reports from firms surged 130% in 2017.
Regulation
Morgan Stanley to appeal €20 million fine for rigging bond market in France
France’s AMF has imposed a fine on Morgan Stanley for allegedly manipulating bond prices, but the US bank will appeal the decision.
MiFID II failing to improve market data fee conflict with ESMA looking to equities consolidated tape solution
Review of MiFID II finds market data fee issues are not being addressed by the regulation as ESMA recommends real-time consolidated tape for equity instruments.
New data reveals the number of UK investment firms struggling with MiFID II reporting
New data discloses around 15% of UK investment firms have notified FCA of errors or omissions in transaction reporting under MiFID II.
Industry warned as regulators fail to provide feedback on MiFID II transaction reporting
Firms are at risk of fines for MiFID II transaction reporting failures, as almost 70% state they have received no feedback at all from regulators on submissions.
FCA looks to expand SMR to benchmark administrators
Benchmark administrators could be in-scope of the senior managers regime late next year, as the FCA launches consultation on proposal.
Buy-side agree EU CSDR buy-in regime will threaten bond liquidity
Asset managers have expressed concerns that the CSDR mandatory buy-in regime will impact liquidity and increase costs.
Goldman Sachs in $1 million settlement for audio recording failures
Goldman Sachs was found to have failed to record phone lines of trading and sales desks due to hardware error.
BGC to pay $3 million for voice trading and reporting violations
The CFTC found that BGC failed to capture voice trade communications over five years.
ESMA chair outlines staggered and focused approach to MiFID II review
ESMA chair Steven Maijoor acknowledged a recent position paper from the German regulator calling for reform to MiFID II in Europe during a keynote address.