Gary Gensler, Chair of the US Securities and Exchange Commission (SEC), has revealed that the SEC is reviewing its whistleblower programme.
Legal & Regulation
Investors are starting to reduce their emerging markets equity allocations due to fears of a growth slowdown in China, cutting back on significantly overweight positions they built during the country’s rapid economic recovery from coronavirus last year.
The market for ESG investing in the UK will come under greater scrutiny from the Financial Conduct Authority (FCA), according to a new business plan published by the regulator.
STFR inspires firms to consolidate processes for regulatory reporting regimes, say IHS Markit and Pirum
A new survey of 80+ in-scope firms by IHS Markit and Pirum shows that more than 70 percent of respondents are aiming to consolidate their diverse regulatory reporting processes under a single platform following the implementation of the Securities Financing Transaction Regulation (SFTR). Fifty-four percent of surveyed firms also say they have used the SFTR implementation as a catalyst for rethinking their regulatory reporting processes for various regimes, including the Markets in Financial Instruments Directive (MiFID) and European Market Infrastructure Regulation (EMIR).
Asset managers are warning that new sustainable finance rules in Europe could end up reducing financing to emerging economies, where capital is most needed to fund the renewable energy transition.
The FCA’s review into Assessment of Value Reporting (AoV) will make it significantly more difficult for fund groups to justify high fees during periods of underperformance.
World Federation of Exchanges seeks risk-based calibration of EU Bank Capital for national equity markets
The World Federation of Exchanges (The WFE), a global industry group for exchanges and CCPs, has published its response to the European Banking Authority (EBA) concerning recognition of developed equity markets.
In response to the challenges the CSDR implementation poses for firms, IHS Markit has enhanced its Securities Processing solution to provide the foundation to support the cash penalty regime, delivering multi-asset class solutions across the post-trade landscape, with integrated regulatory components enabling clients to better manage headwinds faced in an ever evolving and uncertain environment.
Following the publication of the European Commission report confirming the settlement discipline regime will be reviewed, Susan Yavari, Regulatory Affairs Adviser at EFAMA, says concerns remain about the implementation schedule for the Mandatory Buy-in (MBI) Regime.
Challenging groupthink: Willis Towers Watson says most active managers over-diversify to reduce investment risk
“Knowing more about less”: this is how Willis Towers Watson describes the process of researching fund managers. “There are 18,000 asset managers. There are more asset managers than there are stocks in indices,” says Chris Redmond, head of manager research at Willis Towers Watson. “We cannot possibly devote our time to every one of them.”