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Uncleared Margin Rules – more regulatory requirements are on the horizon!

[fa icon="calendar'] 27-Jul-2020 08:18:54 / by David Woolcock posted in Regulation, Treasury Management, Treasury, FCA, regulatory reporter, Treasury Trading Solutions, Banking Regulation, treasury trading, COVID19, fx swaps, UK, EMIR

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The regulation for Uncleared Margin Rules (UMR) was set in motion at the 2009 G20 meeting following the global financial crisis.

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Back aboard LIBOR Reform – full steam ahead in the UK.

[fa icon="calendar'] 20-Jul-2020 11:16:02 / by David Woolcock posted in Regulation, Treasury Management, Treasury, FCA, regulatory reporter, Treasury Trading Solutions, Banking Regulation, treasury trading, COVID19, UK

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A triumvirate of the Working Group on Risk-Free Reference Rates (RFRWG), the FCA and the Bank of England published joint statements in March and April (see my previous blog  LIBOR Wars) reiterating that firms must move away from referencing LIBOR and reduce the stock of legacy LIBOR contracts.

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Drifting back to a bright new future?

[fa icon="calendar'] 19-Jun-2020 10:20:07 / by David Woolcock posted in Regulation, Treasury Management, Treasury, sales, regulatory reporter, Sales Desk, SFTR, Treasury Trading Solutions, Banking Regulation, treasury trading, COVID19, RegTech

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The effect of the pandemic has been a mixed bag for many involved in our markets. The increase in volatility has seen a boost to trading activities and RegTech has been busy innovating to help overcome the compliance issues of remote working. With banks splitting personnel between the office, disaster recovery sites and working from home, issues have arisen that will spur technological development and system renewals.

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Bringing Harmony to Treasury, Sales and Regulatory Compliance.

[fa icon="calendar'] 08-Jun-2020 07:30:00 / by David Woolcock posted in MiFID, Regulation, Treasury Management, Treasury, FX, sales, regulatory reporter, Sales Desk, Treasury Trading Solutions, Banking Regulation, treasury trading

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Regulations are having a profound effect on the trading landscape alongside a proliferation of Codes of Conduct.  In the UK, there are three codes replacing the former NIPS code covering FX, Money Markets and Precious Metals.

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Regulatory Reporting and FX Swaps. Or is it FX Strats? Or even FX Packages?!

[fa icon="calendar'] 02-Jun-2020 08:18:11 / by David Woolcock posted in MiFID, Regulation, FX, FX payments, regulatory reporter, MiFIR, Banking Regulation, ESMA, fx swaps

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We have been seeing a lot of discussion and interest concerning a blog I penned in March last year  under the title of “Beware the Ides of March - A Drama of FX Swaps Reporting”.

This March, we had a Consultation from ESMA, nattily entitled, “MiFID II/MiFIR review report on the transparency regime for non-equity instruments and the trading obligation for derivatives”, which may equally be causing this issue to be re-visited. 

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SFTR – The regulatory reporting net is about to be cast a whole lot wider

[fa icon="calendar'] 24-Sep-2018 10:20:00 / by Robert Harris posted in Banking, Blog, Regulation, regulatory reporter, SFTR

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The European Union (EU) Securities Financing Transaction Regulation (SFTR) is part of Europe’s continuing clampdown on potential risks in the banking & financial services sectors.  Scheduled for introduction in Q3 2019, it requires firms to report details of their Securities Financing Transactions (SFT’s) to trade repositories. This includes a range of instruments including; Repos, Securities and Commodities Lending, Buy/Sell Backs, Margin Lending and Total Return Swaps. 

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PSD2 – the really useful regulation

[fa icon="calendar'] 03-Jul-2018 06:00:00 / by Robert Harris posted in Banking, Customer Service, Regulation, Payments, Compliance, PSD2, regulatory reporter

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The 2018 Payment Services Directive (PSD2) opens up payments markets to new, radical service providers in an aim to create a cheaper, more efficient European payments market. It provides new opportunities for third parties to access banks’ internal data in real-time to improve customer service.  

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The Best Executed defence means no penalties.

[fa icon="calendar'] 29-Jun-2018 14:43:19 / by David Woolcock posted in Banking, Blog, MiFID, Regulation, Compliance, MiFID II, Best Execution, regulatory reporter, World Cup

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As the data publishing season for best execution begins, it is timely to look at what is required, and what will be required going forward.

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MiFID II ISINs - If you want to see the sunshine, you have to weather the storm.

[fa icon="calendar'] 23-Feb-2018 12:27:40 / by David Woolcock posted in Banking, Blog, MiFID, Regulation, Compliance, MiFID II, regulatory reporter

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In my last blog The week that was the MiFID II deadline I highlighted the issue with LEI’s. This time it seems it is the turn of ISINs that are causing some turbulence below the surface of what otherwise has been a great industry effort to get the good ship (MiFID II) launched and implemented without any sharp squalls driving us onto the rocks.

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