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  • Market Integrity And Strategic Approach, Speech By Mark Steward, Executive Director Of Enforcement And Market Oversight At The FCA, Delivered At The 19th Annual Institute On Securities Regulation In Europe Event In London

    Date 07/02/2020

    Highlights

    • We work with a very high degree of precision and collaboration with both US regulators and EU authorities on issues that affect our markets. We need to avoid fragmentation in our markets which will provide wrongdoers with arbitrage opportunities for misconduct.
    • The market cleaniness metric was first published in 2008 when it found that approximately 30% of takeovers showed abnormal price movements 2 days prior to an announcement. Our latest figure published in 2019 is currently at its lowest score at around 10% and we have developed a new measure which has produced a lower figure of 6.4%.
    • We have taken a strategic and integrated approach to our market integrity efforts encompassing enforcement, primary and secondary oversight and surveillance, and wholesale supervision which could explain improvements recorded by the market cleaniness metric and abnormal trading volume ratio.
    • Would-be abusers should be aware of our increased detective power which materially ratchets up the risk of abusers being found out.

  • ESMA Issues Opinions On Position Limits Under MiFID II

    Date 07/02/2020

    The European Securities and Markets Authority (ESMA) has published seven opinions on position limits  regarding commodity derivatives under the Markets in Financial Instruments Directive and Regulation (MiFID II/MIFIR) today.

  • FIA January 2020 SEF Tracker

    Date 07/02/2020

    Trading volume on SEFs reached a record level of $1.1 trillion in average notional value per day during January 2020. The increase in trading volume mainly took place in the forward rate agreements sector. 

  • FinSA/FinIA: Follow-Up Regulation By FINMA

    Date 07/02/2020

    The new Financial Services Act (FinSA) and Financial Institutions Act (FinIA) oblige the Swiss Financial Market Supervisory Authority FINMA to pass a number of implementing provisions, which are mainly technical in nature. FINMA is therefore presenting a new, streamlined ordinance, amending current ordinances and circulars and abolishing three circulars. FINMA will hold a consultation on the follow-up regulation up to 9 April 2020.

  • Saxo Bank Appoints Stig Christensen As New Chief Sales Officer

    Date 07/02/2020

    Saxo Bank, the leading fintech specialist focused on multi-asset trading and investment, today announces the appointment of Stig Christensen as Chief Sales Officer. Stig has served as Chief Human Resources Officer at Saxo Bank since 2016 and will continue to hold this position as well until a permanent replacement is found.  His appointment follows the departure of Damian Bunce who has stepped down as Chief Commercial Officer.