Widely expected statement confirms Mifid II is simply too complex to implement in 2017.
The cut-off date for the ruling is February 21, and if an agreement is not reached by then, the cost for European banks to trade and clear with US clearing houses will sky rocket.
Sprecher claims reporting and best execution rules in Mifid II is “balkanising” Europe’s securities markets.
FCA widens scope of new conduct rules to cover algorithmic trading and client dealing functions.
The review will focus on the governance and shareholding arrangements of the deal.
Morgan Stanley has paid out a $62.95 million settlement relating
to the sale of residential mortgage backed securities to three banks which
failed during the credit crisis.
Credit Suisse and Barclays to pay over $150 million in fines over dark pool charges, in largest ever penalty imposed by the SEC.
Introduction of new margin rules will be highly detrimental to the buy-side, according to an industry panel.
Interim boss Tracey McDermott will pass on the baton in the coming weeks.
FCA policy lead will speak to delegates next month about the implementation of Market Abuse Regulation.