Last week, the Financial Conduct Authority (FCA) revealed several critical indicators of what a post-Brexit world might look like.
The European Parliament’s recent vote on EMIR suggests that proposals to ease the burden of reporting will finally come to fruition this year.
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.