Knowledge and Competence

Under Article 25(1) of MiFID 2 (2014/65) firms will be required to ensure (and to demonstrate to competent authorities on request) that persons giving investment advice or information about financial instruments, investment services or ancillary services to clients on behalf of the investment firm possess the required necessary knowledge and [...]

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EMIR: Mandatory Clearing

Article 4 of EMIR places a clearing obligation on all OTC derivative contracts which fulfil the conditions therein – but only once ESMA has determined which classes of OTC derivatives should be subject to the clearing obligation (Article 5(2)); see Regulatory Roundup 57 for further details, On 6 August the [...]

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EMIR and Frontloading

Firms that will have to come to grips with the ‘frontloading requirement’ (see previous article) will be interested in the recent ESMA Review of the EMIR Framework (2015/1254).  The content is being submitted to the European Commission to feed into the general report on EMIR that it will prepare and [...]

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