Top trends for 2018: MiFID II
Experts from across the world of research, technology and trading sectors give us their predictions on what will happen in 2018, first up we look at the anticipated effects of MiFID II.
Regulation
ESMA delays LEI requirements under MiFID II
European regulator issues six-month grace period as it learns firms are unlikely to meet 3 January deadline.
Euronext gains approval to operate APA and ARM ahead of MiFID II
Regulatory approval means Euronext can offer clients full reporting services under MiFID II.
EU and US reach agreement on derivatives trading ahead of MiFID II
Decision means banks and traders can use US venues to trade derivatives in compliance with MiFID II.
MiFID II research tax bill to hit £40m a year in the UK
Office for Budget Responsibility (OBR) documents claim the UK government could collect £40m a year from VAT on research payments.
JP Morgan fined $1.25 million for failing to screen employees
Over 8,000 employees at JP Morgan were not screened or fingerprinted as required by federal securities law in the US.
FCA lands ex-BAML trader with market abuse fine
The FCA has fined the BAML broker over £60,000 for creating a "false and misleading impression” of supply and demand.
Europe’s short selling rules up for review
Industry pressure is forcing European regulators to rethink short selling regulations they enforced post-financial crisis, so should we expect a scale back, asks Sarfraz Thind.
European Commission launches study on blockchain technology
EU has established a €250,000 blockchain study looking at the degree of regulatory intervention the European Commission should take.
Credit Suisse fined $135m after FX traders ‘manipulated’ market
Traders found to have used chat rooms to share customer information and engaged in illegal front running activities between 2008 and 2015.