Regulation

Both buy- and sell-side firms agree the mandatory buy-in regime will have significant negative implications on Europe’s capital markets.

The MiFID II SI regime, best execution reporting, market data costs and the share trading obligation were among the areas the EFSA has urged authorities to prioritise. 

Despite the extension to comply with the final phase of the uncleared margin rules, major operational challenges remain for buy-side firms.

Despite Libor being due to cease at the end of 2021, UK authorities have set out a timeline for the shift to the Sonia benchmark throughout this year. 

Following intense debate among market participants on the extensive costs of market data, incumbent exchanges could soon have less power over the consolidated tape in the US.  

The EU authority’s new powers include increased oversight of third-country equivalence assessments working alongside the European Commission.

The Bank of England and the FCA are upping efforts in data, with plans to deploy new technologies for increased data and analytics abilities.

Experts from across the industry share their insights into what will be the biggest trends of the coming year, covering Brexit, geopolitics and market structure.

John reviews the best of The TRADE News’ coverage of regulation over the past 12 months.

Andrew Bailey has been chief executive of the FCA since July 2016, and will take on the leadership role at the Bank of England in March next year.