See here for an article on the Bloomberg website reporting on a speech made by Lord Hill about the possible reduction of new regulatory initiatives affecting the banking industry, following a review of financial legislation. The speech talks of possibly slowing the stream of legislation so that the industry and consolidate the rules, and also allow their intentions, such as the reduction of systemic risk, to be realised.

The commodities and energy trading sector is also experiencing an increase in the level of regulation. Only weeks after the second REMIT reporting deadline, MAR will take effect, on 3rd July. MAR will impact most firms in the sector, in many cases requiring an increase in monitoring capability as well as other measures. MiFID II is very likely to start on 3rd January 2018. It is likely that many in the sector will be required to set up regulated entities as part of MIFID II, depending on the shape of the final version of the Ancillary Activity test, due to come out at the end of the month. Position Limits under MiFID II will affect far more market participants.

These rules, and others, are likely to continue to hit the sector for some time. While the eventual list of new rules targeting the financial sector may well slow, the energy and commodities trading sectors are likely to need to spend the next few years improving their regulatory capabilities, in order to at least partially further implement the processes and technology found at banks.