Karan Kapoor, head of regulatory change and technology at Delta Capita, suggested the key will be to make settlement efficiency improvement a joint objective for front-office and operations teams
A further delay to the Central Securities Depositories Regulation's settlement discipline regime until 1 February 2022 has been welcomed by industry participants
Commenting on the letter, consultant Tony Freeman explained that the ESMA letter covers a lot of issues but one of the highest-profile is the issue of delegation and substantive-presence
Carpenter explained there are major concerns around the mandatory buy-in process, particularly for the tier-one banks under the buy-in rules and possible associated cash compensation process
The European Bank for Financial Services has selected Societe Generale Securities Services in Germany and MFEX Mutual Fund Exchange to provide brokerage, custody and trailer fee management services
ESAs said they are not in a position to formally submit draft RTS to the European Commission to amend the PRIIPs Delegated Regulation after it did not receive the support of a qualified majority