Regulatory Developments

ESMA provides guidance on the compliance function under MiFID II Friday 05 June 2020 11:24 The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, today publishes the final guidelines on the MiFID II compliance function. These guidelines replace the ESMA guidelines on the same topic issued in 2012 and include updates that … Read more

ESMA announces new methodology for peer reviews Friday 05 June 2020 11:01 The European Securities and Markets Authority (ESMA), the EU securities markets regulator, today publishes a new Peer Review Methodology integrating the improvements to this process that were introduced by the revised ESMA Regulation (ESMAR).  Peer reviews contribute significantly to supervisory convergence, and ESMAR … Read more

Acting Comptroller of the Currency Brian Brooks wrote to state associations for cities, mayors and governors, warning them to consider the long-term adverse impact of stay-at-home orders on the nation’s banks. “Certain aspects of these local orders, potentially threaten the stability and orderly functioning of the financial system the OCC (Office of the Comptroller of … Read more

ESMA updates reporting instructions for MMF reporting Thursday 04 June 2020 17:42 The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published updated reporting instructions to be used for reporting under the Money Market Fund Regulation (MMFR). ESMA has implemented amendments on the XML schema and reporting instructions in a new … Read more

ESMA promotes convergence in the supervision of costs in UCITS and AIFs Thursday 04 June 2020 11:30 The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published today a supervisory briefing on the supervision by National Competent Authorities (NCAs) of costs applicable to Undertakings for the Collective Investment in Transferable Securities … Read more

Federal Reserve Board announces an expansion in the number and type of entities eligible to directly use its Municipal Liquidity Facility

ESMA consults on cloud outsourcing guidelines Wednesday 03 June 2020 12:23 The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today published a consultation paper on guidelines on outsourcing to cloud service providers. The guidelines’ purpose is to provide guidance on the outsourcing requirements applicable to financial market participants when they … Read more

Americans continue to face problems with accessing stimulus debit cards, with some people receiving cards they can’t use due to the wrong names being printed on them. Issues in the past few weeks have included some people receiving the blank, inconspicuous envelopes the cards come in and throwing them away, not recognizing what they contain. Yahoo! … Read more