Latest Regulation Articles

T2S: Breaking Down Silos, Connecting EU Markets and Energising Settlement

C Prasannavenkatesan, Maveric Systems - R Jagadeesan, Maveric Systems - 7 Jun 2013

The year 2015 and beyond will be marked by a significantly different environment for securities settlement in the European Union (EU). The European post-trade landscape is undergoing a plethora of major programmes related to infrastructure and regulatory initiatives, including the TARGET2 Securities (T2S) scheme. This article highlights key aspects pertaining to the state of EU securities settlement pre and post-T2S, the design elements and the current state of T2S programme.

EMIR: An Unpleasant and Imminent Surprise

André Frugte , Orchard Finance - Esther Goemans-Verkleij , Orchard Finance - 16 May 2013

European governments have a plan that enables banks to go bankrupt without having a devastating effect on the financial system via recovery and resolution plans. The problem is that no-one knows exactly what to expect from this plan, included in the European Market Infrastructure Regulation (EMIR), which also covers the move to centralised clearing for over-the-counter (OTC) trades and other market reforms. The introduction has been briefly delayed until the framework is in place, but mandarins insist that from 23 September 2013 all companies, including banks and corporates, will be confronted with this new legislation.

AIFMD: A Wide-reaching Scope

Florence Fontan , BNP Paribas - 30 Apr 2013

The Alternative Investment Fund Managers Directive (AIFMD), a European Union law to put hedge funds and private equity funds under the supervision of an EU regulatory body comes into force on 22 July 2013. If fund managers haven’t started working towards compliance already, they risk missing the deadline even though they have a one year transitional period to fully comply. This article provides a potted guide to compliance and examines if it will impact on treasurers.

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