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Brexit, Uncategorized

FCA Brexit plans

The UK’s Financial Conduct Authority have published their “Business plan” for 2017/2018 (see here) as well as a “Mission” document (see here). The statement in the business plan by Andrew Bailey, CEO of the FCA on page 11, alludes to the FCA’s role in MiFID II, which is significant. In addition, looking at the “Our role” section on page 15 outlines some of the key priorities of Brexit including:

 

  • Cross border market access
  • Consistent global standards
  • Cooperation between authorities
  • Influence over standards
  • Recruitment

This article on The Telegraph web site discusses the statement.

Those in energy and commodity trading will be particularly interested in the practical consequences of the financial rules which apply to them, such as EMIR, MiFID II and MAR. With the implementation of MiFID II on 3rd January 2018, and the Brexit the year after, it will be important to understand the “end state” of the rules, or at least the direction of travel, preferably whilst designing any medium or long term solution.

 

 

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on energy and commodity regulation. He has more than 20 years of experience in energy and commodity trading, credit, risk and financial technology. He has delivered a series of trading, credit and risk solutions to a wide variety of oil majors, power and gas companies and investment banks. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.

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