The International Accounting Standards Board (IASB) has issued IFRS 17 Insurance Contracts, the first international IFRS Standard for insurance contracts.
Regulatory data exchange Silverfinch has added a MiFID II data solution to its datamodel in response to its clients’ changing regulatory requirements.
Private equity trade association Invest Europe has published its 2016 European Private Equity Activity report revealing that fundraising for investment into companies across Europe hit its highest level since 2008 last year at EUR74.5 billion, a 37 per cent year-on-year increase.
Indos Financial, the UK independent depositary, has secured approval from the Financial Conduct Authority (FCA) to extend its Alternative Investment Fund Managers Directive (AIFMD) depositary permissions to become a full depositary.
Research unbundling is creating a whole new marketplace model for research procurement and consumption.
Investment managers running UCITS funds or Alternative Investment Funds (AIFs) will not fall directly under MiFID II or have any legal obligation to comply with regulation or require a MiFID license. However, from a product governance perspective, they will be impacted indirectly. This is because their fund distribution partners, such as MiFID licensed bank platforms, will be required to define the investor target market for each product.
Anyone who has bought or sold a home knows that, prior to closing, an inspector usually verifies the property's condition. The buyer doesn't simply accept the seller's representation that the home is sturdy and unlikely to collapse. An inspection lays bare the houses faults, giving the buyer comfort in the home's condition and absolving the seller of ongoing responsibility.
On forecasting the likely actions of Russia during the Second World War, UK Prime Minister, Sir Winston Churchill, spoke of it as a ‘riddle wrapped in a mystery inside an enigma'. Alternative asset managers might be forgiven for thinking the same about the devilish complexity of MiFID II.
MiFID II aims to increase the accountability and transparency of the financial services industry and represents the latest in a long line of regulatory developments since the '08 global financial crash.
Colt Technologies is a private telecoms company owned by Fidelity. It delivers secure, on-demand services designed to meet the stringent requirements and speed of the financial markets. Among the more than 400 capital markets firms it supports worldwide includes 18 of the 25 largest global banks and 13 European central banks. With both sell-side and buy-side firms looking for reliable access to market data under MiFID II, having the requisite market infrastructure in place is a potentially daunting task.