EC issued the Commission Implementing Decision (EU) 2017/2238 on the equivalence of legal and supervisory framework applicable to designated contract markets and swap execution facilities in the United States, in accordance with the Markets in Financial Instruments Regulation (MiFIR: Regulation (EU) No 600/2014). The decision shall enter into force on the day following that of its publication in the Official Journal of the European Union.
EC has recognized certain trading venues authorized by CFTC as eligible for compliance with the EU trading obligation for derivatives. This decision will ensure that EU counterparties can continue to trade the most liquid derivatives instruments on the U.S. platforms. CFTC is also working toward exempting certain EU-authorized trading venues from registration requirements in the U.S. This follows an agreement, which was announced on October 13, 2017, between EC and CFTC on a common approach regarding certain derivatives trading platforms. The agreement will enable EU platforms to offer trading services to U.S. counterparties.
Effective Date: December 07, 2017
Keywords: Europe, Americas, US, Securities, Equivalence Decisions, Derivatives, MiFIR, MiFID II, CFTC, EC
Previous ArticlePRA Consults on Groups Policy and Double Leverage for Banks
EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.
FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).
APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.
BCBS and FSB published a report on supervisory issues associated with benchmark transition.
IAIS published a report on supervisory issues associated with benchmark transition from an insurance perspective.
ESMA updated the reporting manual on the European Single Electronic Format (ESEF).
EBA published a statement on resolution planning in light of the COVID-19 pandemic.
BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework
ECB published a guideline (2020/97), in the Official Journal of European Union, on the definition of materiality threshold for credit obligations past due for less significant institutions.
FED temporarily revised the capital assessments and stress testing reports (FR Y-14A/Q/M) to implement the changes in response to the COVID-19 pandemic.