MiFID II compliance requires preparation
Financial services providers better be prepared for additional scrutiny under MiFID II, Laura Glynn advises.
Ms. Glynn is the global regulatory affairs manager with Fenergo, a provider of client lifecycle management software solutions for investment, corporate and private banks. Fenergo’s solutions help institutions manage the end-to-end regulatory onboarding and entity data management processes. They are rules-driven to ensure compliance with multiple regulatory frameworks while supporting the collection, centralization and sharing of client and counterparty data and documentation institution-wide.
The United Kingdom’s Financial Conduct Authority provides the following definition of MiFID II on its website:
Risk.net
‘Fair value’ pricing – Regulators demand transparency and independence in valuations
21 Apr 2021
The US Securities and Exchange Commission (SEC) has joined the growing list of global regulators cranking up the pressure on how financial services firms price investment securities – and how those values are determined. Rule 2-a5 under the Investment Company Act of 1940, officially adopted by the SEC in December 2020, is just the latest step in a decade-long effort to address valuation practices not only for registered investment companies, but across the spectrum of the financial services industry. By Karl Mackelburg, director, fixed income valuations, Refinitiv
Karl Mackelburg, Refinitiv
The requirements of fixed income data present many firms with specific complexities. A highly complex and challenging asset class, fixed income comprises many
part one of two
Financial Services Bill: Reflections
After hundreds of hours of debate, thousands of words drafted and spoken, we have passed the Financial Services Bill through the House of Lords.
It now goes back to the Commons, for consideration of our amendments, before being finally agreed then off to the Palace for Royal Assent.
Learnings from the Bill, many. Work still to do, much.
From a crypto perspective, it seemed, as is often the case, many of my amendments relating to fintech – including, for example, consideration of blockchain-based tools for transaction reporting requirements under the Markets in Financial Instruments Directive (MiFID), a mandatory regime for open finance, action on Digital ID, AI officers – appeared just too early for the Government’s taste.
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