News Centre

IOSCO - Implementation Monitoring Of The PFMI: Level 3 Assessment Of Financial Market Infrastructures’ Business Continuity Planning

Date 21/07/2021

• The CPMI and IOSCO assessed the implementation of Principle 17 (Operational risk) of the Principles for financial market infrastructures in 38 FMIs from 29 jurisdictions.
• Surveyed financial market infrastructures (FMIs) have business continuity plans, reviewed at least annually and tested regularly, that included pandemic scenarios prior to Covid-19.
• The report identified one serious issue of concern in the area of recovery. The CPMI and IOSCO urge the relevant FMIs and their supervisors to take action to resolve these issues.

UK Financial Conduct Authority And The Bank Of England Encourage Market Participants In A Switch To RFRs In The LIBOR Cross-Currency Swaps Market From 21 September

Date 21/07/2021

Following close engagement with authorities across LIBOR jurisdictions and with market participants, the FCA and Bank of England support and encourage liquidity providers in the LIBOR cross-currency swaps market to adopt new quoting conventions for interdealer trading based on risk-free rates (RFRs) instead of LIBOR from 21 September this year. This is to facilitate a further shift in market liquidity toward RFRs, bringing benefits for a wide range of users as they move away from LIBOR.

Aeternal Mentis To Start Trading On BME Growth Next Friday, 23 July

Date 21/07/2021

• It is the ninth company to join this BME market in 2021

corfinancial’s Salerio Selected By Man Group As Treasury Solution For FX Processing

Date 21/07/2021

corfinancial today announces that Man Group, the global active investment management firm, has selected its treasury solution, Salerio, to manage the firm’s foreign exchange confirmation, settlement and netting processing.

Bitstamp Launches EURt, The First Euro-Pegged Stablecoin

Date 21/07/2021

Bitstamp, a leading cryptocurrency exchange, has today announced that it will launch trading of Tether tokens pegged on euro (EURt), the first euro-pegged stablecoin, providing a liquid, stable and trusted means of obtaining exposure to the single European currency.

US Treasury Data: Amount Of June Emergency Rental Assistance Resources To Households More Than All Previous Months Combined Number Of Households Served In June Nearly Tripled Since April

Date 21/07/2021

New grantee performance data for the month of June on the Emergency Rental Assistance (ERA) program, released today by the Treasury Department, shows a significant increase in the number of households served and the amount of funds provided to households as state and local programs continued to ramp up their efforts. More than $1.5 billion in assistance was delivered to eligible households in the month of June, more than the assistance provided all three previous reporting periods combined. The number of households served in June grew by about 85% over the previous month and nearly tripled since April. In June, 290,000 households were served, up from 160,000 served in May and approximately 100,000 in April. This represents significant progress, but there is still much further work to go to ensure tenants and landlords take advantage of the historic funding available to help cover rent, utilities, and other housing costs and keep people in their homes.

Prometeia And Fabrick Partner To Launch New Digital Wealth Management Solution Harnessing AI And Open Finance

Date 21/07/2021

Fabrick, a leading Italian fintech company which operates internationally to promote Open Finance, and Prometeia, a consulting, software and research company that is a market leader in solutions for risk and wealth management, today announce the launch of Global Investment Portfolio, a unique digital wealth management solution that harnesses the power of artificial intelligence and open banking. The solution has been created through a new strategic partnership between the two companies that responds to the needs of modern customers and represents an evolution in the world of digital wealth management.

Bank Of England Publishes Review Of Ethnic Diversity And Inclusion At The Bank

Date 21/07/2021

The Court of the Bank of England has today published its Review of Ethnic Diversity and Inclusion at the Bank.

ESMA Highlights Areas For Improvement In Compliance With MiFID II Suitability Requirements

Date 21/07/2021

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, today publishes the results of the 2020 Common Supervisory Action (CSA) on MiFID II suitability requirements.

UK Financial Conduct Authority: Information For Firms Who Use Certain Exemptions To The Financial Promotions Order

Date 21/07/2021

Following onshoring changes made to The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the FPO), the definition of Relevant Market inadvertently no longer includes relevant UK markets.