Market participants are increasing their equivalence lobbying efforts as the post-Brexit treatment of bonds and stocks listed on the London Stock Exchange remains unknown. Plus, Goldman Sachs responds to Switzerland relocation rumours
Although managers applaud EU and UK regulators’ achievement of agreeing on delegation, there are still no passporting provisions for outbound UK funds. Meanwhile, the TPR is finally gaining traction
The majority of the investment management community is now turning to the concept of management companies as a post-Brexit solution. Other more cautious managers are making their way to Luxembourg
A batch of STS-approved deals makes some hopeful about the new regime, but others remain unconvinced and believe the market will shrink due to the stringent data requirements
Banks are nervous about offering these facilities to their clients,owing to confidentiality concerns around sensitive trade information. But this hasn't deterred top tier US banks from offering this service
The Commission has officially published the regulation, but firms are by no means prepared. Here, sources reveal the low level of understanding within working groups
The final part of Practice Insight’s landmark Brexit survey highlights the struggles in-house counsel and private practice face when repapering, while buyside and sellside sources weigh-in on their concerns outside the UK's departure from the EU
In-house compliance teams are finding it hard to digest Esma’s guidance on SFTR as some definitions are inconsistent with Icma’s best practice guide, specifically repo and buy-sell back transactions
Lessons from Emir implementation have gone amiss in the securities finance industry. With a clearer deadline in place, it remains to be seen whether the sector will prioritise SFTR compliance projects on time.
Buyside firms want a concrete answer to custodian cut-off dates to make a case for onboarding budgets and resource planning. Some may be out of pocket by paying the annual custodian fee, yet fall out of scope of UMR
The second instalment of this landmark survey uncovers the UK financial market’s top choice for relocation. Meanwhile continental firms haven't even heard of the FCA's plan for continued access.
Market consensus is forming around temporary solutions such as the CRA III or BoE templates while firms continue to wait for the European Commission’s approval
