JWG’s Customer Data Management Group (CDMG) March focus was the soon to be implemented (3 July 2016) Market Abuse Regulation (MAR). JWG have created a set of rule interpretations for MAR which have been incorporated into our regulatory platform, RegDelta. The March CDMG also included a rule interpretation segment, where participants ‘deep-dived’ a few of
Continuing on from part 1, where we discussed the European regulator’s priorities for Credit Rating Agencies (CRAs) and Trade Repositories (TRs) for 2016, we now look at the nature and focus of the work the regulator plans to carry out this year to promote supervisory convergence. In October 2015, the European Securities and Markets Authority
The market abuse regulation (MAR) is fast approaching and will impact not just financial services firms, but also any EU listed company. Identified in a number of articles published here on RegTech, and discussed at JWG’s CDMG, (customer data management group), which focused on MAR/MAD changes in August last year, the regulation will involve a
On 28 January 2016, ESMA published a paper consulting on a number of draft guidelines falling under a fraction of the Market Abuse Regulation (MAR). This consultation paper was based on a previous discussion paper, issued by ESMA on 14 November 2013. In particular, the paper covers the mandates placed on ESMA to produce guidelines
JWG analysis. On 9 November 2015, ESMA published its Q&A on the implementation of the current Market Abuse Directive (MAD). For those of you looking for some relief, this is a relatively short document, just 8 pages, and it consists of only two questions. Question one focuses on the disclosure of inside information related to
JWG analysis. … at least, not much! This week is a significant one for compliance and legal professionals in the financial services industry. ESMA has finally released 1,500 pages of draft regulatory standards covering trading, market abuse and the settlement of securities. In the past few months, JWG has spent considerable time covering MiFID II,
JWG analysis. With almost a 400% increase in the number of suspicious transaction reports received by the Financial Conduct Authority (FCA) since 2007, you may assume that the monitoring and reporting procedures put in place by firms have increased in quality. However, although this may be a logical conclusion to draw, a recent FCA newsletter
JWG analysis. At the 8th Customer Data Management Group (CDMG) meeting of 2015, on 18 August, over 20 members from 10 firms came together to discuss the new Market Abuse Regulation (MAR) and the potential challenges it holds. With less than 11 months until particular sections of MAR will apply to the financial services industry,
JWG analysis. Since the financial crisis, there has been an increased focus on tackling market abuse. As of March this year, the FCA had 49 cases market abuse cases open and, in 2014, 60+ market abuse cases were on their books. In terms of criminal convictions, three were secured for insider dealing and nine confiscation
JWG analysis. With 40+ regulations covering 500+ KYC data requirements due to be implemented over the next 3 years, meeting the requirements poses significant challenges to all firms in the market, not least client outreach, data management and multiple, iterative, implementation dates. Combined with record fines for AML failures, and new personal liability for senior