Addressing delegates by the side of the Xtrakter Annual User seminar and forum the past, David Lawton summarised the agenda as follows:
Bringing belief rating agencies (CRAs) into decree: The European Commission is in the process of registering CRAs and has initiated discussions on a promising advance in circles of legislation, alert on measures to strengthen competition in the CRA marketplace, and to reduce the (sometimes mechanistic) trust which regulators and investors can place on ratings.
The Alternative Investment Fund Management Directive: Toil is in a jiffy underway on the more detailed implementing measures.
New short-selling regulations, in a jiffy in the final stages of negotiation, will introduce a pan-EU regime in which: Small positions in equities beyond 0.2% will maintain to be disclosed to the controller and small positions beyond 0.5% will maintain to be disclosed to the marketplace.
Short positions in supreme ruler debt beyond monetary thresholds which are still to be agreed will maintain to be disclosed to the controller.
Measures interrelated to clearance houses and the derivatives markets, which are addressed in Commission proposals in place of decree of over-the-counter derivatives, central counterparties and trade repositories.
Reviews of the Markets in Financial Instruments Directive and the Market Abuse Directive, someplace proposals are likely from the Commission by the summer break.
And, soon in the time, a periodical of the Transparency Directive, a version Directive on securities law, and a regulatory framework in place of Central Securities Depositaries.
According to Mr Lawton, the agenda aims to retain “an successful trading, transparency and venture management make up, dispatch concerns highlighted by the economic calamity, and respond to market-driven developments”.
He adds: “High-quality, transparent and release markets continue of the essence in place of the UK’s perception as a leading international economic marketplace centre.”