A coalition of industry groups, including the Association for Financial Markets in Europe and the International Swaps and Derivatives Association, has expressed concerns about a single reporting regime for both transaction and position reporting on over-the-counter derivatives based on reporting through trade repositories.
Compliance officers at firms operating in the U.K. must delve deeper into the background of clients and companies they deal with to avoid falling foul of tough U.K. rules on financial sanctions, attorneys said.
The U.K. Listing Authority has tweaked its approach to disclosures surrounding reverse takeovers.
Industry groups have expressed their opposition to client categorization rule changes for over-the-counter derivatives.
Any overhaul of the way the U.K. Financial Services Authority polices the work that auditors carry out for financial services firms may affect whether they can be held liable for losses suffered by clients and third parties, according to attorneys at Clifford Chance.
A Committee of European Securities Regulators recommendation to introduce a consolidated tape combining post-trade data pulled from across EU markets could ease burdens on compliance officers, according to Richard Everett, partner at Lawrence Graham.