personal. views own. views not necessarily correct. value of my views can go down as well as up. 'Moderately nefarious' (the BBC), ex-'tornado of raw emotion'
Wherever there is injustice
Joined December 2013
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Still investigating the short sellers tho.
And this makes no sense unless suspicious that one of the shorters was Wirecard staff or a whistleblower or there’s an argument that shorters w no objective but to destroy Wirecard pushed execs to fraud in order to shore-up stock price
In a shocking volte-face the German authorities have decided to stop defending the guilty:
ft.com/content/4ebd9032-d3d1…
There’s some surprising stuff in here, particularly given where so many PTFs/SIs and venues have moved for their post-Brexit EU hubs.
Dutch regulator calls for overhaul of MiFID II fixed income transparency rules bit.ly/2QOVplg
HT @staffordphilip
He’s not wrong that equivalence means rule-taking in the UK’s case (& the UK’s case only, so far as I can judge, unless all other equivalence decisions get torn up). But that’s the way the EU equivalence regime works & we did know that.
Some snappy comments from Andrew Bailey in @CommonsTreasury today on FS equivalence. Obtaining equivalence from Brussels is preferable, “But it’s not worth having on any terms," he said.
Attention @SMTuffy : what does this mean for finreg?
Does this mean the FCA’s own supervisory timetable (eg the comp review of wholesale brokers) is back to normal too?
See our updated information for firms on handling complaints during #coronavirus fca.org.uk/firms/firm-handli… We now expect firms to deal with customer complaints within normal timescales unless there are exceptional coronavirus-related circumstances #coronavirusuk #covid19 #FCAupdate
With a little more effort, EU could work to be equivalent to UK. Go, ESMA!
🔴#ESMA is working on a proposal to possibly delay the entry into force of the Central Securities Depositories Regulation settlement discipline regime.
⚠️ 1 February 2022
❓ impact of the #COVID19 pandemic on regulatory projects and IT deliveries by CSDs
europa.eu/!Wg76Fb
If you think you’re paying for research via the spread rather than the sellside’s pricing of its own risk in dealing in small cap fixed income, I have bigger concerns
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If different unbundling rules worry them, wait until they find out about Brexit.
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*taps microphone*
This is how 3rd country firm access is done. See also:
xitter.cf/cftc/status/1286360932…
“Nice market full of retail punters and their savings you have there, it’d be a shame if someone shorted it”
On lobbying - “I was present but not involved”
Nikhil Rathi, who is set to lead Britain’s markets watchdog, has a warning for the finance industry: Increase diversity or supervisors will force change bloomberg.com/news/articles/… via @markets
“Quick fixes”. Yeh, what could go wrong. ‘Act in haste, repent in leisure’
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Sam Tyfield retweeted
In her latest #IMFBlog, @KGeorgieva stresses international cooperation on healthcare, trade and debt relief among the #G20 and other countries will be vital for a durable and inclusive recovery from the crisis. ow.ly/ci8550AzDFh
TRANSLATION:
FCA gives “firms [which can prove to our satisfaction that they have been] affected by #coronavirus extra time [which they can prove to our satisfaction has been used fully to make lasting cultural changes]”
Read our proposals on extending the deadlines for the Certification Regime and Conduct Rules, giving firms affected by #coronavirus extra time fca.org.uk/publications/cons… #FCAconsults #smcr #COVID19
Oh so *now* they like the @FT reporting on Wirecard.
.@FinancialTimes: EU’s financial watchdog has launched a fast-track investigation into Germany’s supervision of the collapsed @wirecard. #ESMA will assess the supervisory response by BaFin, 🇩🇪 regulator, and FREP, body which monitors companies’ accounts.
on.ft.com/2ZAPoxv
*fetches cuppa*
#ESMA has published 2 final Reports reviewing provisions of the #MIFIDII/ #MIFIR transparency regime
1⃣ → amendments regarding transparency obligations for trading venues
2⃣ → pre-trade transparency obligations applicable to systematic internalisers
europa.eu/!DP79FK
ESMA trolling t’Yorkshire accent.
🔴 1/3 #ESMA is to launch an assessment of t/ supervisory response in t/ financial reporting area by BaFin and t/ Financial Reporting Enforcement Panel to t/ events leading to t/ collapse of @wirecard. It will be completed by 30 October 2020.
Statement ▶️ europa.eu/!ff46PK
