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Updated REMIT guidance and consultation on Inside Information – move to use platforms

ACER released an updated REMIT Guidance document last night, together with some other updated documents. The changes relate to the disclosure of Inside Information under REMIT Article 4, and also the use of the exemption with respect to insider trading. ACER has also opened a consultation on  inside Information. The guidance document (section 7) states … Continue reading

ESMA call for evidence on position limits – responses published

ESMA has published the responses received to their “call for evidence” on the MiFID II position limits regime. They can be found here. The call for evidence, which can be found here, asked for input into the effectiveness of the regime that started with MiFID II on 3 January 2018. Several industry associations (FIA, ISDA … Continue reading

Reporting fine in Ireland

Wells Fargo Bank International has been fined €5,880,000 by the Central Bank of Ireland(CBI) for reporting failures and also for failures around the governance of reporting. The reporting relates to capital calculations and filings under CRD IV and connected legislation. The fine was reduced for early settlement according to the usual CBI fining formula. More … Continue reading

Fine for position limit violation in the US

The CFTC has fined Elephas Investment Management Ltd. a Hong Kong based hedge fund, for violating wheat futures speculative position limits on CBOT. The fine was set at $160,000.  The CFTC press release can be found here and the order here. The Order found that on November 29, 2017, “Elephas held a net long position … Continue reading

FIA position paper on ETD reporting under EMIR

The Futures Industry Association has issued this paper on the topic of reporting Exchange Traded Derivatives (ETD) under EMIR. The paper proposes some changes to simplify position reporting of ETDs. Unlike other reporting regimes around the world, EMIR requires that ETDs be reported by market participants. Many of those who report prefer to do so … Continue reading