In The News

E.U. – ESMA on UK Position Limits

On 24 October, ESMA issued opinion on FCA commodity position limits. ESMA’s opinions agree nine position limits proposed by Financial Conduct Authority (FCA). Covers ESMA opinion on exact position limit for commodity futures and options contracts. On zinc, tin, nickel, lead, copper, aluminium, ICE white sugar, Robusta coffee and cocoa. Found position limits by the…
Read more

U.K. – FCA Merrill Lynch EMIR Fine

On 23 October, FCA issued £35mn fine to Merrill Lynch for EMIR failings. Fined Merrill Lynch International £34,524,000 for breach of Principle 3, Art 9 EMIR. MLI agreed to settle at an early stage and qualified for the 30% Stage 1 discount. Without the discount, FCA would have imposed a financial penalty of £49,320,000. MLI…
Read more

Saudi Arabia – CMA Mergers & Acquisition

On 19 October, SA CMA adopted updated merger, acquisition regulation. Board approved updated merger and acquisition regulations, and glossary update. Updated merger and acquisition regulations, took account of comments received. Including regulations for acquisition, through the general assembly, controls over relevant sale or purchase, approaches, mandatory offer, disclosure requirements. Scope Covered purchase or sale of…
Read more

Solutions Atlantic Exhibiting at NSCP

From 16 October to 18 October, the National Society of Compliance Professionals' Annual Meeting will take place in Washington, D.C. Solutions Atlantic has been an exhibitor at this yearly event for several years. The NSCP Annual Meeting, continues to be the conference of necessity for most compliance professionals in the financial services industry. Regardless of…
Read more