European Commission (EC)
EC fines banks €1.7bn over benchmark rigging
Eight banks fined for participating in illegal cartels; UBS avoids €2.5 billion fine in exchange for co-operation
OTFs and Sefs: equivalence in doubt
European legislators are close to finalising their derivatives execution rules, but trading platforms are concerned the OTF framework may be sufficiently different to US Sef rules to scupper any chance of equivalence determinations. By Tom Osborn
Regulators clash on Mifid waivers
Some regulators and brokers have expressed fears that exemptions included in Mifid may mean European rules on trade execution are not equivalent to the US – but a key parliamentarian disagrees
Futures data will be useless to regulators without reporting delay, Esma warns
Esma responds to EC's 'intended rejection' of one-year postponement
Insurers demand clarity on Omnibus II
Equivalence, credit risk adjustment and details on level 2 text urgently needed, say top insurance executives
Barnier to attend crunch trilogue to see Solvency II negotiations ‘over the finish line'
Profound changes expected to long-term guarantees package
Top 10 op risks: data theft
In the third of our series of top 10 op risks for 2014, we look at how high-profile spying and security leaks put the spotlight on privacy obligations
Q&A: Commission Solvency II head Wiedner on closing the deal on Omnibus II
Klaus Wiedner, head of the insurance and pensions unit at the European Commission, has the task of brokering a deal on Omnibus II. As negotiations go down to the wire, he rebuts criticism that too many concessions are being made to the insurance industry…
Dispute resolution mechanism needed to resolve regulatory spats – EC’s Pearson
Differences in national regulations need to be ironed out, says Patrick Pearson
Lithuanian presidency proposes increase to volatility adjuster cap
Benefit could more than triple amid hopes of a deal on Omnibus II long-term guarantees package
Van Hulle urges parties to reach agreement in Omnibus II negotiations
Former Solvency II head at European Commission says agreement in the interests of all stakeholders
Futures reporting delay 'will not take place', says EC's Pearson
Industry had been banking on one-year postponement - Esma now looking for solution to reporting impasse, according to senior EC official
Officials blindsided by CFTC's Sef footnote 88, says Ferber
Senior MEP says officials from US and Europe only recognised dangers of Sef rules footnote in recent weeks
EU Council accused of bulldozing over long-term guarantees proposals
German MEP “appalled” by “irresponsible” council as Omnibus II trilogue negotiations resume
Postponed Omnibus II vote casts doubt on Solvency II 2016 launch
European Parliament pushes back vote to March 11 despite positive developments in Omnibus II negotiations
EU ETS fix should focus on long term, argue market participants
Short-term fixes give rise to uncertainty, in contrast to long-term change needed to rescue the ETS, say firms
Sefs and exchanges echo EC's CDS licence complaints
Abuse of power?
EC asset management chief: funds industry needs binding rules
Follow the Lueder
CFTC-EC ‘stricter-rule applies’ cross-border agreement worries market
Lawyers warn allowing strictest regulation to prevail will create heavy-handed regime
Commission approves scrapping of extended matching adjustment
Brussels frames Solvency II long-term guarantees debate along the lines of Eiopa’s proposals
FTT would ‘drain financial resources’, GFXD research claims
The global FX division is upping its lobbying efforts to have forex derivatives carved out of the financial transaction tax with new research that shows the potential impact of the tax on transaction costs
Iosco letter to EC ‘strongly recommends’ PFMI standards for non-EU CCP recognition
International frameworks for CCPs should be the primary source of jurisdictional equivalence assessments, according to Iosco's Alder.
Energy should be exempt from benchmark rules, argues EC official
Benchmark indexes in energy markets are already well regulated and do not need further oversight, argues EC director-general for energy
