MARKET BRIEFINGS
REPORT
FSB OTC DERIVATIVES MARKET REFORMS: 2019 PROGRESS REPORT ON IMPLEMENTATION: A SUMMARY
On 15th October 2019 the Financial Stability Board (FSB) published their latest market survey on the OTC derivatives market reforms that have been taking place within the FSB Member Jurisdictions. Storm-7 Consulting provide a summarised report in order to provide our readers with a more concise and summarised version of the final report to make it easier to digest.
REPORT
A SUMMARY REPORT OF BOE AND FCA SURVEY MACHINE LEARNING IN UK FINANCIAL SERVICES
The BoE and FCA Joint Survey (Joint Survey) 1 was carried out during the first half of 2019, with a view to gaining an understanding of the use of ML in the UK financial sector. The aim is to use the results of the Joint Survey, together with ongoing dialogue with the industry and other authorities (domestic and international), in order to help identify any policy questions that need to be answered in the future. Overall, this is being conducted in order to support the safe and productive deployment of ML within the financial sector.
REPORT
PSD2: REGULATION, STRATEGY, AND INNOVATION
This report will explore and provide analysis into how Banks, Financial Institutions, FinTech firms and RegTech firms are failing to capture strategic and commercial advantage through insight into the opportunities arising from the impact of revised Payment Services Directive (PSD2) and Strong Customer Authentication (SCA) implementation. It will highlight how firms are failing to recognise these opportunities and are not effectively preparing themselves for the upcoming landscape, but are instead choosing to adopt a ‘wait and see’ approach.
REPORT
CENTRAL COUNTERPARTY (CCP): OPTIONS CLEARING CORPORATION $20 MILLION FINE – A CRITIQUE BY STORM-7 CONSULTING
This report will provide an analysis of the $20 million fine imposed on The Options Clearing Corporation, and a critique of the Orders imposed by the United States Securities and Exchange Commission and the United States Commodity Futures Trading Commission.
BRIEF
PSD2 Transaction Thresholds for Strong Customer Authentication
There are two main drivers underlying the revised Payment Services Directive (PSD2), enhanced consumer protection and the need to encourage competition among financial providers…
WHITEPAPER
MIFID II RECORDING OF COMMUNICATIONS
The recast Markets in Financial Instruments Directive (2014/65/EU) and the Markets in Financial Instruments Regulation ((EU) No 600/2014) (together MiFID II), are set to usher in a radical new era in the regulation of banking and fInancial services across the European Union (EU)…
BRIEF
REPORT
BRIEF
A GLOBAL REGULATORY SNAPSHOT
This brief provides comprehensive coverage of all the Global Regulatory Compliance Frameworks around the world, including their scope, objectives and areas of key impact.
MIFID II APPROVED REPORTING MECHANISM REPORT
This MiFID II and MiFIR Approved Reporting Mechanism (ARM) report seeks to provide an overview of the ARM operational framework that is set to take effect on 3rd January 2018 across the European Union (EU). It sets out the MiFIR Article 26 and technical standards requirements relating to ARMs, as well as providing a review of existing ARM firm offerings. It seeks to provide a review of the features of existing ARM offerings with a view to providing a single source of information for firms to review ARM technology and solution offerings.
MIFID II BEST EXECUTION POLICY (EXTRACTS)
Extract example of MiFID II Client Order Handling and Best Execution Policy.
BRIEF
BRIEF
BRIEF
MARKET ABUSE: NEW EU SANCTIONS AND MEASURES
This new framework has ushered in what the Financial Conduct Authority (FCA) has labelled as a 'situation of unprecedented complexity'. It is therefore vital that firms have sufficient training in identifying market abuse behaviours such as layering, front running, spoofing, churning, pools, pump and dump, runs, wash trades, ramping, and quote stuffing. Firms must also ensure that their market abuse surveillance programmes have effective controls on Inside Information, are appropriate and proportionate to the scale, size, and nature of their business activity, and provide rigorous audit trails around any research activities and trading decisions made.
MARKET ABUSE: SURVEILLANCE SOFTWARE SOLUTIONS
Modification of Existing Information Technology Infrastructures.
An overview of five market abuse software offerings are presented in order to provide a preliminary guide to the types of modification of information technology infrastructures that may be required within a firm.
INTRODUCTION TO THE NEW MIFID II FRAMEWORK
This brief provides and introduction to the new MiFID II framework.
BRIEF
BRIEF
BRIEF
REGULATORY TIMELINE 2017-2019
This brief provides comprehensive details of all the Global Regulatory Compliance Framework timelines around the world, and the coverage Storm-7 provides on each of them. [Created start 2017].
MIFID II: ACHIEVING OPERATIONAL COMPLIANCE AND STRATEGIC ADVANTAGE
The highly complex requirements to achieve operational compliance for MiFID II1 and MiFIR2…and the nebulous implications of Brexit, in conjunction with the increased militancy of many European regulators, represents "a perfect storm" as far as the finance industry is concerned. It clearly represents a seismic shift in the existing financial landscape in the European Union (EU), presenting both a significant challenge in terms of regulatory compliance, as well as a new opportunity for firms to strategically leverage the new framework in order to achieve long-term competitive advantage. [2016]
MIFID II: TRANSACTION REPORTING AND THE FCA’S NEW REGULATORY MARKET DATA PROCESSING PLATFORM
MiFID II is a wide-ranging piece of legislation, with significant potential impact across an organisation's entire operations – from trading, transaction reporting and client services, to Information Technology (IT) and Human Resources (HR) systems. This briefing document focuses on the aspect of MiFID relating to Transaction Reporting.