by David Schwartz J.D. CPA | Oct 15, 2014 | All, Change Overview and Rationale, Formal Regulatory Remedies
The European Securities and Markets Authority is seeking input on its plans for mandatory central counterparty clearing of foreign exchange non-deliverable forwards (FXNDF). FXNDFs are cash-settled foreign exchange forward contracts that cannot result in physical...
by David Schwartz J.D. CPA | Aug 19, 2014 | All, Change Overview and Rationale, Formal Regulatory Remedies
The different approaches to the interpretation of MiFID I across Member States mean that there is no commonly-adopted application of the definition of derivative or derivative contract in the EU for some asset classes. Whilst this issue has in the past been noted as a...
by David Schwartz J.D. CPA | Dec 19, 2013 | All, Formal Regulatory Remedies
Based on the European Securities and Markets Authority’s (ESMA’s) UCITS guidelines, which became effective in February, it was initially feared that asset managers would be required to return all revenues from securities lending to investors. Responding to these and...
by David Schwartz J.D. CPA | Aug 19, 2013 | All, Formal Regulatory Remedies, Procedural Changes
The European Securities and Markets Authority (ESMA) has approve cooperation agreements with seven global counterparts in five jurisdictions. These agreements with regulators in the Bahamas, Japan, Malaysia, Mexico and the United States formalize details of...
by David Schwartz J.D. CPA | Jul 12, 2012 | All, Formal Regulatory Remedies
In his July 4 address before the Europlace Financial Forum, European Securities and Markets Authority (ESMA) chair, Steven Maijoor, announced that ESMA would be proposing standards implementing regulation of OTC derivatives, central counterparties and trade...
