The European Banking Authority and Bank of England are urging one another to act quickly to avoid a calamitous melt down of European OTC swap contracts before the Brexit deadline. While their statements stirred up fear, the practical realities are less dramatic.
Last week, the EU Council’s legal service attempted to add clarity to ESMA’s delegation opinions but the most recent utterances have had the opposite effect thus adding to asset managers’ Brexit anxieties.
Recently we urged asset managers to pay more attention to the normally unglamorous post-trade space. The timing now seems prescient because EU policymakers have since issued key asset segregation proposals with the potential to impact current UCITS and AIFMD funds significantly.
We highlight what to expect this quarter and recap Q2 2018’s key regulatory developments.
Almost a decade on from the initial attempt, the US Securities and Exchange Commission (SEC) has proposed a new rule that will make bringing an ETF to market faster and less expensive.