Investment Firms’ Report Card Released for Reporting – EMIR & SFTR
ESMA recently released their Data Quality Report which presented analysis of the quality of data which was collected for regulatory use in 2021 under the EMIR and SFTR transaction reporting regimes.
Reminder: RTS 28 Reports Due 30 April 2022
RTS 28 is still in force for EU and UK investment firms and must be published by 30 April 2022.
Investment firms are required to summarise and publish their top five execution venues in terms of trading volume and information on the quality of execution obtained for each class of their financial instruments
Forgetting to report your EMIR/UK EMIR hedge (LP) trades?
Failure to report your hedge trades not only is a breach of your EMIR/UK EMIR reporting obligations but can also attract serious financial penalties from your NCA.
Are You Ready for the Upcoming Changes to SFTR Validation Rules and XML Schemas?
20022 XML schema on 29 July 2021. The updated validation rules will take effect from 31 January 2022. Now is the time to get ready for the changes.
Are Rolling Spot FX and Spot Precious Metals Reportable Under MiFIR?
Just over one year since MiFID II came into effect, TRAction still gets asked whether Rolling Spot FX and Spot Precious Metals are reportable under MiFIR.
The Most Common ASIC Reporting Errors in 2022 – Part 3 (Liquidity Provider Edition)
We regularly find firms are either misreporting or not at all reporting their liquidity provider (LP)/hedge trades.
Are Football Player CFDs reportable?
Football enthusiasts can now trade football-based contracts for difference (CFDs), turning passion into profit, but what are the regulatory implications for brokers offering these products to their clients?
FAQ: How should zero collateral be reported for margin lending under SFTR?
How should zero collateral be reported for margin lending under SFTR?
Do crypto-asset service providers have MiFIR reporting obligations?
To address the Money Laundering/Terrorism Financing (ML/TF) risks emanating from crypto-assets, the Cyprus Securities and Exchange Commission (CySEC) published a policy statement (PS) on 13 September 2021 to outline its approach to the registration and operations of Crypto Asset Services Providers (CASPs).
Will a crackdown on PFOF stop brokers from hedging to related parties or taking a share in the LP’s book?
PFOF triggered ESMA’s concerns on a few key MiFID II requirements, namely, best execution (Article 27), conflicts of interest (Article 23), inducements (Article 24(9)), and cost transparency (Article 24(4)). The purpose of these requirements are to protect retail investors.