Law proposal for Milan as the new financial centre in Europe
[Newsflash n. 32] From day one after Brexit, rumours have been spreading throughout Europe about which city, if any, will become the new financial centre after London. In this race, Italy has been consistently [...]
FinTech Credit: Market Structure, Business Models and Financial Stability Implications
On 22 May 2017, the Committee on the Global Financial System (CGFS) and the Financial Stability Board (FSB) published a report analysing opportunities and risks linked to increasing share of credit provision through FinTech platforms. [...]
ESMA clarifies “traded on a trading venue” under MIFID II
On 22 May 2017 the European Securities and Markets Authority (ESMA) has issued today an opinion regarding the implementation of the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). The opinion clarifies the concept [...]
EBA consults on the use of the Cloud by financial institutions
[Newsflash n. 31] On 18 May 2017, the European Banking Authority (“EBA”) launched a public consultation on its recommendations on the use of cloud services by financial institutions. While a set of CEBS guidelines [...]
Joint public statement FSMA-ESMA regarding Euribor
On 4 May 2017 the European Securities and Markets Authority (ESMA) and the Financial Services and Markets Authority (FSMA) of Belgium have issued a joint statement regarding the Euribor benchmark. The key element of text is: In [...]
Commission proposes simpler and more efficient derivatives rules
The European Commission is today (4 May 2017) proposing some targeted reforms to improve the functioning of the derivatives market in the EU. The reforms provide simpler and more proportionate rules for over-the-counter derivatives to [...]