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.
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.
The Cyprus Securities and Exchange Commission (CySEC) has flagged several incorrect reporting practices of Regulated Entities under EMIR in respect of zero net positions.
Navigating your European reporting obligations can be tricky.
We’ve answered some of our most frequently asked questions below to help you understand your transaction reporting obligations a little better.
Are you unsure if you have EMIR and/or MiFIR reporting obligations or whether you are reporting completely and correctly?
A recent report published by the ESMA shows more effort is needed to improve trade data quality under EMIR and SFTR.