Updates & insights

On July 8th, ESMA published three sets of revised Q&As covering specific aspects of EMIR, MiFID II, and MiFIR data reporting and transparency. The revisions take immediate effect. Regarding EMIR, ESMA’s updates focus on practical questions regarding Article 9 data reporting deadline issues involving the definition of ‘working day’ where

We are proud to announce that today the biggest Bank in Asia has signed up to our deltaconX regulatory platform to cover their EMIR & SFTR obligations. An extension to cover further Regulations in US and Asia are already in discussion.

On 5th June, ESMA published 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 enhance clarity and foster greater convergence in the implementation, and supervision, of the new MiFID II compliance function requirements.

On 28th May, ESMA published updates to some of its Q&As covering EMIR (Refit), MiFID II, and MiFIR. Of urgent interest was the update to the EMIR Q&A covering the imminent Refit changes around ‘compulsory delegation’. Specifically, ESMA has added a new Question 54 to the Trade Repository (TR) section,

After careful consideration, CME Group will be winding down most of its regulatory reporting services listed below, on or by 30th November 2020. This decision follows an evaluation of our Regulatory Reporting business portfolio following the acquisition of NEX Group in November 2018 which determined it no longer aligns with

ESMA issues public statement on postponement of the reporting obligations related to SFTs under SFTR and MiFIR. In order to mitiagte the impact of COVID-19 ESMA published the attached public statement to announce that SFTR reporting start date will be postponed. We understand that legally they offer a “grace period”

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has released today the long-awaited Level 3 documents. They have published the following documents: The Final Reporting Guidelines, as well as the accompanying Final Report Amended SFTR Validation Rules, and A statement on LEIs granting a 12-month grace

The European Securities and Markets Authorty (ESMA), the EU’s securities markets regulator, has published updated ISO 20022 XML Schemas to be used for reporting under the Securities Financing Transactions Regulation (SFTR). Link: https://www.esma.europa.eu/press-news/esma-news/esma-updates-iso-20022-xml-schemas-sftr-reporting

The PRA has imposed a combined financial penalty on Citigroup Global Markets Limited, Citibank N.A. London branch and Citibank Europe Plc UK branch of £43.9 million for failings in relation to their internal controls and governance arrangements underpinning compliance with PRA regulatory reporting requirements. Full article:https://www.bankofengland.co.uk/news/2019/november/pra-fines-citigroups-uk-operations-44-million-for-failings Press release: https://www.bankofengland.co.uk/-/media/boe/files/news/2019/november/pra-fines-citigroups-uk-operations-44million.pdf?la=en&hash=5563730822D0D84D5717801180C6261A687B4D61

On 13 November 2019, the Dutch Authority for the Financial Markets (AFM) imposed an administrative fine of €2,000,000 on ABN AMRO Bank N.V. The fine was imposed because in the period between 18 July and 13 September 2016 ABN AMRO failed to disclose inside information on time. Full article:https://www.afm.nl/en/professionals/nieuws/2019/nov/boete-abn-amro