“The periods of high volatility and low liquidity observed during COVID-19 crisis would have been further exacerbated by the existence of a mandatory buy-in regime,” AFME explains
Clearstream and BearingPoint’s solution aims to cover arising reporting obligations for the new regulation TRACE
“With only eleven months remaining, there is insufficient time left for fund managers (and other product manufacturers) to properly implement the envisaged wide-ranging changes,” says EFAMA
While some national competent authorities at EIOPA’s board continued to express reservations on the draft RTS, they supported the proposal based on the further details provided by the commission on their approach to the broader review of PRIIPs
To avoid damaging market liquidity and stability, the trade body suggests the CSDR settlement discipline regime should be split in two, with cash penalties going live in February and the buy-ins held pending a “in-depth assessment"
EACH explains that a delay to CSDR’s SDR would provide market infrastructures and other market participants sufficient time to implement and would also avoid unnecessary duplicative implementation costs
ICMA has presented a ‘waterfall’ of proposals for implementing the SDR, based on its members’ assessment of what it considers most optimal in terms of minimising disruption to Europe’s bonds markets while still attaining the objectives of CSDR
