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Regulation

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  • No matter where in the world a European trading firm wants to find a counterparty, they will have to comply with the Markets in Financial Instruments Directive (MiFID) from January 2018. And in Asia, that might cost them business, according to panellists at an International Swaps and Derivatives Association (ISDA) conference this week.
  • The flood of data required by the Markets in Financial Instruments Directive (MiFID II) opens Europe’s financial markets to greater risk of cyberattacks as more firms will be required to send more information to more regulators and counterparties than ever before. Even personal details, such as passport numbers, could be vulnerable.
  • The European Banking Association (EBA) and the European Securities and Markets Authority (ESMA) published guidelines this week for how financial institutions should make their management suites more diverse — but have declined to lead by example.
  • ABS
    ABS buyers from the UK and continental Europe are operating as normal, with little concern for the Brexit cliff edge around the corner, according to panellists at the TSI Congress 2017 in Berlin.
  • SRI
    Should a bank making a loan to finance a windfarm have to hold less capital against it than a loan to finance an oil rig?
  • Citi has been fined $550,000 for data reporting violations on its internal swap contracts.