European Securities and Markets Authority (Esma)
Questions remain after EC publishes position limits rules
Market participants raise concerns about extraterritoriality and hedge exemptions, while regulators are tipped to struggle
Fresh Priips objections reignite timing fears
Supervisors' concerns could delay adoption and put pressure on implementation timeline
Mifir transparency rules could capture illiquid packages
Criteria to assess which package transactions are liquid are too broad, industry warns
European buy-side firms face clearing crunch
Large buy-side firms will be subject to Europe’s clearing mandate from December 21, but their smaller peers risk being left behind
Commodities traders question EU’s insider trading regime
Esma guidance on Mar leaves market in the dark, say critics – particularly for hedges
CFTC looks to strengthen oversight of trading obligation
Chief counsel at CFTC highlights weaknesses of bottom-up approach to MAT determinations
EC signals staggered entry for Mifid II trading obligation
Rules for derivatives may take effect after January 2018 to allow for US equivalence deal
Relief for EU money market funds on liquidity buffers
Final compromise regulation not expected to trigger large fund reallocations
FCA urges progress on equivalency for derivatives trading
US and EU regulators should base recognition decisions on outcomes, not technical details
Energy firms given second escape path from Mifid II
Revival of capital test "a workable solution" for asset-heavy companies
Losing the match: EU repo rules spark reporting fears
Repositories battling to improve matching rates for Emir trade reporting as SFTR looms
Bankers told to lead from the top on Mifid governance rules
Structured products issuers’ strategy should reflect new guidelines, say regulators
Q&A: Dutch watchdog on the pitfalls of Mifid II
Catching the right energy firms – and leaving others untouched – has been tough, says Esma task force member
Mifid II impact on energy liquidity sparks fiery debate
Regulators and industry clash over interpretation of Mifid II market-making rules at industry event
FCA ‘working in background’ on Mifid commodity limits rules
Regulator builds out reporting platform to monitor position limit breaches
Repo markets left guessing by new EU reporting rules
Record-keeping obligations of SFTR already in force, but no guidance on data fields
Esma set to backtrack on mandatory asset segregation
Maintaining the status quo would avoid disrupting securities financing and collateral reuse
EU trading obligation threatens US equivalence
Rigid criteria and poor data could make EU regime too narrow to achieve US recognition
AIFs may struggle to meet March margin deadline
Lawyers warn some AIFs may not be ready for the start of Europe's variation margin regime
Final EU non-cleared margin rules softened for pension funds
No margin concentration limits for pension funds, but intragroup rules threaten US equivalence
Data providers wrestle with systematic internaliser status
Covering 80% of venues is considered enough to approximate total market size under Mifid II
EU net margin rules are riskier than US regime, warns CFTC
Commission’s Bandman raises margin financing as emerging systemic risk to CCPs
Dealers leave buy side guessing on Mifid trade reporting
Clients face tougher reporting rules if dealers don’t become systematic internalisers
UK resists expansive view of Mifid II position limits
FCA suggests limits shouldn’t apply to OTC trades between non-EU entities