Category Archives: News

E.U. AML Beneficial Ownership Update

Update to address High Risk Countries On 11 July, the EC issued a letter on the AMLD assessment of high risk third countries. Proposes four stage approach focusing on priority third countries first based on exposure. First stage is develop methodology for assessment, international list to be added to by EC.   Previously reported, on…
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E.U. ESMA Proposes Guidelines for MiFID II Suitability

On 13 July, ESMA proposed guidelines on MiFID II suitability provisions. Follows ESMA 2012 guidance on MiFID for suitability and compliance units. Covers guidelines to enhance clarity and foster convergence in suitability requirements. Key principles remain unchanged since MiFID but has strengthened certain obligations. Suitability Requirements Guidelines make reference to fact that robo-advisers do not…
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Spain – Short Selling Ban in Liberbank S.A. Shares

On 12 July, the CNMV extended its short selling ban in shares of Liberbank S.A. Extension remains for two (2) months Enters into force on 12 July 2017 at 23:59 CET and applies until Sep 12. Ban applies to net short positions of Liberbank SA shares under the Short Selling Reg. The measure does not…
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E.U. ESMA Issues Final Standards for Derivatives Data

On 10 July, ESMA issued rules on the aggregation of derivatives data. Follows Jun. 2012, ESMA new rules for derivatives, CCPs and repositories. RTS defines operational standards for aggregation and comparison of position data. Is to ensure that market activity in derivatives traded on and off market identified. Derivative Data Rules set the frequency and…
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