We highlight what to expect this quarter and recap Q2’s key regulatory developments.
What could change the game in Q3:
- In just a few weeks, the UK will have a new Prime Minister and the EU’s newly minted Parliament is assembling. Brexit’s new deadline of 31 October means it’s going to be a busy quarter as the UK continues to try and craft a new deal that pleases both the UK and the EU.
- July 12 marks the EU’s CSDR deadline for first internalized settlement reporting (the 10th business day of the new quarter).
- In September, the US SEC is expected to release its final ETF rule after gathering feedback following last year’s proposal.
What happened in Q2:
- In the US, it was a busy quarter for the SEC. The commission:
- voted in favor of its Regulation Best Interest rule, but the regulation is far from final.
- defined “digital assets” laying out their stance and setting the groundwork for future regulation.
- paved the way for non-transparent, active ETFs when they granted approval to Precidian Investments.
- gained a new member when the senate confirmed Allison H. Lee, bringing the Commission back up to a full five. She could be a swing vote on major US regulatory decisions.
- Q2 marked one year since implementation for the EU’s GDPR – a regulation that has had significant impact on global asset managers.
- Japan’s Tokyo Stock Exchange took another step toward restructuring – a move that may have long lasting and far reaching impact.
Top On The Regs Posts of Q2:
- One Year Later: A Conversation on GDPR | Read More
- The SEC Liquidity Rule: Challenges Continue as Implementation Looms | Read More
- Elvis Has Left the Building: The Rock and Roll of the Shareholder Rights Directive II | Read More
Want to receive On The Regs Quarterly Updates directly in your inbox? Click here to subscribe.