ESMA blames remote working for reg delay need

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By Jasper Cox
01 Sep 2020

The European Securities and Markets Authority (ESMA) has said that making sure staff could work remotely hindered the ability of financial firms to work on regulatory and IT projects, in a final report calling for the implementation of a set of rules on settlement discipline — including on mandatory buy-ins — to be delayed until 2022.

The legislation was originally supposed to come into force this month, but earlier this year that date was postponed until next February. Now, it is set to be pushed back by another year.

ESMA laid out its rationale for postponement in a report published last Friday, where ...

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