COVIP: Overview on investment policies of Italian “Casse Professionali”
On 20 December 2016, Covip (the Italian Pension Funds Authority) published a survey on the investment policies adopted by self-employment pension funds (Casse Professionali) during year 2015 (“Document”). The Document firstly assesses the allocation of financial resources between the different [...]
European Supervisory Authorities consult on Big Data
On 19 December 2016, the Joint Committee of the European Supervisory Authorities (ESAs) launched a public consultation about the potential benefits and risks of Big Data for consumers and financial firms to determine whether any further regulatory or supervisory [...]
ESMA sets timetable for MIFID II waiver applications
The European Securities and Markets Authority (ESMA) has updated two Questions and Answers (Q&A) documents regarding implementation issues relating to transparency topics and market structures topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).TransparencyThe new [...]
ESMA prepares for MIFID II commodity derivatives regime
The European Securities and Markets Authority (ESMA) has published a new questions and answers (Q&A) document on commodity derivatives topics under the revised Markets in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).MiFID II applies from 3 January [...]
ESMA agrees with the MAR accepted market practice (AMP) on liquidity contracts proposed by spanish regulator Comisión Nacional del Mercado de Valores (CNMV)
The Opinion relates to the accepted market practice (AMP) notified by the CNMV, the Spanish securities markets regulator. This AMP refers to liquidity contracts by which a credit institution or investment firm (financial intermediary) quotes in the equity market [...]
Distributed ledger technology in payments, clearing, and settlement
Digital innovations in finance, loosely known as fintech, have garnered a great deal of attention across the financial industry. Distributed ledger technology (DLT) is one such innovation that has been cited as a means of transforming payment, [...]