News Centre

FESE Views On The ECON Draft Report On The MiFIR Review - Proposals To Include Pre-Trade Data In An Equity Consolidated Tape, Along With Insufficient Market Structure Protections, Threaten To Fragment Markets Further Brussels, 29th July 2022

Date 29/07/2022

FESE endorses the guiding principles of the draft parliamentary report on the MiFIR review – to reduce fragmentation, level the playing field between venues, bolster the EU’s international competitiveness, and promote retail participation. Such guiding principles need to be interpreted and implemented in the context of the specificities of a fragmented EU capital market with no single dominant financial centre. The solutions proposed, however, risk the integrity of the Capital Markets Union (CMU), would further deteriorate price formation and continue to fuel the concentration of equity trading among large players.  

The EBA Responds To The Public Consultations On Sustainability-Related Disclosure Standards Launched By The International Sustainability Standards Board And The European Financial Reporting Advisory Group

Date 29/07/2022

The European Banking Authority (EBA) submitted today its responses to the consultations of the International Sustainability Standards Board (ISSB) and the European Financial Reporting Advisory Group (EFRAG) on sustainability-related disclosure standards. The EBA welcomes these consultations and agrees with the need to introduce international and European standards in response to the growing demand for relevant, reliable and comparable corporate data on sustainability-related matters, and the need for a close cooperation between the ISSB and EFRAG during the finalisation of their own consultations, so as to ensure consistency. The EBA also aims at ensuring consistency between the requirements applicable to institutions under the EFARG framework and under the Pillar 3 framework.

EBA Consults On Revised Guidelines On Methods For Calculating Contributions To Deposit Guarantee Schemes

Date 29/07/2022

The European Banking Authority (EBA) launched today a public consultation on its draft revised Guidelines on deposit guarantee schemes (DGS) contributions. The revised Guidelines aim at enhancing the proportionality between the risk of a credit institution and its contributions to the DGS and at streamlining and simplifying the original Guidelines. The consultation runs until 31 October 2022.

ESMA Launches A Call For Candidates To Establish A Reserve List For The Securities And Markets Stakeholder Group

Date 29/07/2022

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, today launched a call for expression of interest to create a reserve list of candidates who can be appointed to the current Securities and Markets Stakeholder Group (SMSG) when a vacancy arises.

Statement In Honor Of National Whistleblower Day, Gurbir S. Grewal, SEC Director, Division Of Enforcement, July 29, 2022

Date 29/07/2022

Over the past decade, the SEC’s whistleblower program has played a critical role in the Division of Enforcement’s ability to effectively detect wrongdoing, protect investors and the marketplace, and bring violators to justice. Since issuing its first award in 2012, the SEC has awarded more than $1.3 billion to 278 individuals. With the help of these whistleblowers, the SEC brought enforcement actions ordering monetary sanctions of approximately $5 billion. Fiscal year 2021, in particular, was a record-breaking year, with the SEC awarding a total of $564 million to 108 whistleblowers. 

LMEprecious Membership Termination

Date 29/07/2022

The London Metal Exchange (the “LME” or the “Exchange”) and LME Clear Limited (“LME Clear”) hereby notify the market that, with effect from 2 August 2022, and following the Service Withdrawal Notice (LME Notice 22/150 and LME Clear Circular 22-033 dated 25 May 2022), the LMEprecious Service will terminate. Those Members who are Members of both the LMEbase and LMEprecious Service, will continue as LMEbase Members and Members of LME Clear, and those who are Members only of the LMEprecious Service will cease to be Members of the Exchange and LME Clear.

EBA Launches Call For Candidates To Expand Its Reserve List For The Banking Stakeholder Group

Date 29/07/2022

The European Banking Authority (EBA) today launched a call for interest to expand its reserve list of candidates who can be appointed in the current Banking Stakeholder Group (BSG) when a vacancy arises.  The EBA is expanding the existing reserve list so as to fulfil its needs until the end of the current BSG mandate on 30 June 2024. The deadline for application is 16 September 2022 by no later than by no later than 23.59 CET.

Incorporating Climate-Related Risks Into International Reserve Management Frameworks - Report By The Consultative Group On Risk Management (CGRM) Established At The BIS Representative Office For The Americas

Date 29/07/2022

This report focuses on the methodological and data challenges faced by central banks as they consider climate-related risks as part of their reserve management frameworks. A significant methodological challenge is the difficulty in modelling climate factors and their connection to portfolio risk and return characteristics. The lack of comprehensive, timely and accurate climate risk data is another key challenge for reserve managers. Additionally, incorporating environmental social, and governance (ESG) considerations into international reserve management frameworks would need to be aligned with the pillars of safety, liquidity and profitability and also be consistent with central banks' legal mandates. Despite these challenges, some reserve managers are gradually adding climate-related risk metrics into their risk management frameworks and are improving the disclosure.

BIS: CPMI Calls For Comments On A Facilitating Increased Adoption Of Payment Versus Payment (PvP)

Date 29/07/2022

• The CPMI has today published a consultative report on facilitating increased adoption of payment versus payment (PvP) to reduce FX settlement risk and improve cross-border payments, and invites existing PvP arrangements, commercial banks, fintechs and other interested parties to share their views.
• The report analyses the causes of non-PvP settlement, takes stock of existing and proposed new PvP solutions and suggests roles for the private and public sectors, including central banks, to facilitate PvP adoption.
• The CPMI invites comments on this consultative document generally and the questions set out in the document specifically, by 30 September.

Bank Of England: Results Of The Semi-Annual FX Turnover Surveys In April 2022

Date 29/07/2022

In April 2022, 27 financial institutions active in the UK foreign exchange market participated in the semi-annual turnover survey for the Foreign Exchange Joint Standing Committee (FXJSC). The survey results are summarised below. More detailed tables, including a market share report, for the April 2022 reporting period are available separately.