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
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.
Every year the European Securities and Markets Authority (ESMA) outlines its priorities for the following year in its annual work programme (AWP). With ESMA’s new powers and responsibilities, growth in staff numbers and changes in senior management, the AWP for 2022 was developed at a time of significant change for ESMA.
U.S. President Joe Biden signed an executive order on 9 March 2022 to direct federal agencies to examine potential regulatory changes as well as the risks and benefits posed by cryptocurrencies.
There remains a lack of clarity as to whether cryptocurrency derivatives (‘cryptos’) should be treated as financial instruments and therefore subject to ESMA’s derivative reporting rules and reported to a TR/ARM.
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?
We’ve identified the 3 most common errors in the data we receive from our clients: NonReportingPartyCountry field populated with invalid country code, UTI reused for a new trade and invalid LEIs used.
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.
Following the footsteps of other major regulators, the UK, EU and Australia have implemented leverage restrictions on contracts for difference (CFDs) in recent years. In search of alternative solutions, some brokers have found a workaround by moving offshore or setting up branches in jurisdictions with no leverage restrictions.