CBI Fines Global Reach, Highlighting Key Lessons for EMIR Compliance
The Central Bank of Ireland (CBI) has reprimanded and fined an investment fund for failing to report derivatives trades to a trade repository in breach of its reporting obligation under the European Markets Infrastructure Regulation (EMIR). The fine was imposed on November 30, 2023, and is the first time the CBI has fined an investment …
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EMIR Refit Reporting Software
Streamlining Derivatives Reporting EMIR Refit, the European Market Infrastructure Regulation Regulatory fitness update, has brought about substantial alterations to the regulatory landscape governing derivatives trading within the European Union. These changes aim to enhance EMIR’s efficiency but introduce unique challenges for market participants and regulatory bodies. To successfully overcome these challenges, a comprehensive approach is …
Navigating Regulatory Challenges: FCA’s Market Watch
The financial landscape’s regulatory terrain remains intricate and ever-evolving. The Financial Conduct Authority (FCA) continues its vigilance against common transaction reporting errors through its latest newsletter, Market Watch 74. This edition stands out not only for addressing known issues but also for shedding light on previously unexplored concerns, offering a comprehensive guide to compliance. Market …
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Is Your Business Ready to Navigate the EMIR Refit Changes?
With the impending changes brought about by the EMIR Refit, it’s essential for businesses to assess their readiness and take proactive steps to ensure compliance. The European Market Infrastructure Regulation (EMIR) Refit introduces significant modifications that can impact various aspects of your operations. To safeguard your business and successfully navigate this regulatory evolution, consider the …
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EMIR Refit reporting starts in April and September 2024 – what it means for companies
The European Market Infrastructure Regulation (EMIR) Refit go-live dates have been annou nced for the EU and the UK. EMIR trade reporting obliges all companies engaged in over-the-counter (OTC) and exchange-traded (ETD) derivatives trading to report the trades and valuations to a repository. The regulation applies in the European Union (EU-EMIR) and the United Kingdom …
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MiFID II penalties quadrupled to €8.4 million in 2020
ESMA’s latest report reveals a substantial surge in penalties and corrective actions linked to MiFID II non-compliance across Europe in 2020 when compared to the previous year. Here are some key findings from the report: Quadrupled Sanctions: The number of sanctions and remedial actions, as imposed by national competent authorities (NCAs) across Europe, experienced a …
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