On 13 February 2020, RUS CB proposed rules on complex derivatives trades. Proposed to establish legal requirements for financial institutions (FIs) to disclose information to legal entities when they enter into complex derivative transactions. To eliminate existing legal gaps, protect non-financial firms' interests when entering into derivative trades, and reduce legal uncertainty for FIs operating…
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India – SEBI Portfolio Managers Rules
On 13 February 2020, IND SEBI reviewed framework for regulation of portfolio managers. Changes made to fees and charges, direct on-boarding of clients, nomenclature investment approach, disclosure and reporting, and supervision of distributors. The provisions of this Circular shall be applicable with effect from 1 May 2020.
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Ireland – Challenges for the Next Decade
On 12 February 2020, IRE CB governor on the challenges for the next decade. At the European Financial Forum, CB Governor Gabriel Makhlouf said: “Consumers, businesses and regulators should expect, and plan for, more frictions and divergence.” He also discussed the main challenges facing the Irish economy over the next decade. Brexit UK withdrawal from…
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Serbia – SEC Foreign Investors, Securities
On 11 February 2020, SER SEC cited law changes on foreign investor access. Amendments to capital market law, coming into effect 12 February 2020, summarized with increased availability of government securities to foreign investors expected impact. Access to Foreign Investors Foreign investors able to buy government securities issued by the Republic of Serbia. Foreign investors…
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Temporary Short Selling Ban in Turkey
On 11 February 2020, the Regulatory Reporting System alerted clients to a temporary short selling ban in an issuer in Turkey effective 12 February through 26 February.
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E.U. – ESMA Position Limits Under MIFID II
On 7 February 2020, ESMA issued opinions on position limits under MIFID II. 7 opinions on position limits re commodity derivatives under MIFID II/MIFIR issued. Follows ESMA January 2019 issued commodity position limits under MiFID. Overview Opinions agree with proposed position limits re ICE Endex Dutch TTF Gas contracts, EEX Phelix DE Base Power contracts,…
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