Data and securities laws could hold back blockchain adoption for CSDs
Europe’s data protection laws and the incoming CSD Regulation could prevent implementation of the technology in the post-trade area.
Regulation
UK and Hong Kong regulators establish mutual fund recognition scheme
Funds in Hong Kong will now find it easier to market to UK investors if they can demonstrate broad equivalence.
EC failed CMU and needs a successor, says Eurofi chair
The chairman of one of Europe's main think tanks highlighted that market participants were becoming increasingly sceptical of CMU’s likelihood of success.
KPMG admits to failings in BNY Mellon client asset reports
The investigation was launched into KMPG’s audit of BNY Mellon in 2015, after the custody bank was hit with a £126 million fine by the UK's FCA.
Asset managers raise concerns about over-reliance on tech vendors post-MiFID II
Panel at InvestOps in London discussed the potential for over-reliance on RegTech firms to comply with MiFID II.
MiFID III is ‘further away than many might expect’ says MEP Swinburne
Author of MiFID II says any updates will be more about refinement and realignment as opposed to a re-write.
Broadridge makes first move with new FundAssist business by launching MiFID II ex-post reporting solution
Acquisition of FundAssist in May has led to new service set to help investment managers meet reporting obligations for the end of April 2019.
ESMA and European Commission clash on SFTR reporting standards
ESMA has rejected a request from the European Commission to remove the wording of LEIs in the upcoming rules.
Indian regulators extend securities lending hours
SEBI has been active in trying to implement reforms in the securities lending market to grow volumes and mutual fund participation.
Interactive Brokers fined $5.5 million for violating short selling rules
FINRA has fined Interactive Brokers for failing to comply with short selling rules between 2012 and 2015.