Esma publishes final rules for MiFID II, MAR, and CSDR
September 28, 2015 - The European Securities and Markets Authority (ESMA) today published its final technical standards (TS) on some of the most important pieces of post-crisis financial regulation: the Markets in Financial Instruments Directive (MiFID II), the Market Abuse Regulation (MAR) and the Central Securities Depositaries Regulation (CSDR).ESMA’s TS translate how the legislation will apply in practice to market participants, market infrastructures and national supervisors. The new technical standards will alter the functioning of European financial markets by increasing their transparency, safety and resilience as well as investor protection.
CFTC institutes first action against bitcoin options trader
September 18, 2015 - In its first action against an unregistered bitcoin options trading platform, the Commodity Futures Trading Commission (CFTC) in the US has ruled that virtual currencies are a commodity and as such should come under the purview of the Commodity Exchange Act (CEA).
Financial institutions believe common reporting standard will be more taxing than FATCA - KPMG
September 18, 2015 - With a Jan. 1, 2016 effective date looming for 50 "early adopter" jurisdictions set to enact a new international Common Reporting Standard (CRS) for reporting financial account information, 61 percent of respondents to a KPMG survey of executives at financial institutions worldwide say that the CRS will impact more of their accounts than the U.S. provisions commonly known as the Foreign Account Tax Compliance Act (FATCA).
SEC reaches $30m settlement over press release hacking case
September 16, 2015 - A Ukrainian investment banking firm and its CEO have agreed to pay $30 million to settle SEC charges that they profited from trading on information hacked from newswire services.
Asset management body urges delay to MiFID II
September 15, 2015 - The Investment Association is today calling for a rethink of proposed trading rules that would make it harder for investors to buy and sell bonds.
$940 billion energy market to be reshaped by EU's Dodd-Frank
September 9, 2015 - (Bloomberg) -- As if slumping prices weren't enough -- German electricity is trading near a 12-year low -- traders and utilities in Europe's $940 billion power and natural gas markets have another reason to be worried.
Former IT firm director jailed for hacking Aviva phones in revenge attack
August 25, 2015 - A man has been given an 18 month prison sentence for hacking into hundreds of phones belonging to Aviva in an act of revenge against his former company, a security vendor contracted by the insurance firm.
China revives controversial bank procurement rules - Reuters
August 25, 2015 - International tech vendors could face difficulty selling to Chinese banks after Reuters reported that the Chinese government is set to revive controversial cyber security rules that limits the amount of technology that Chinese banks can buy from overseas vendors.
