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Corona, EMIR, SFTR, SMCR

Covid 19 updates – delays and notices

It comes as no surprise that there have been many announcements relating to the impact of Covid 19 since our last update here. These include:

  • Temporary changes and a “softening” of the UK Senior Managers and Certifications Regime(SM&CR), as announced by the FCA here and discussed on the FT Advisory site here.
  • An extension to the response deadline for the consultation run by the European Commission on MiFID II here.
  • A delay to the final stages of the Uncleared Margin Regulation(UMR), announced here by the Bank of International Settlements.

This article on The OTC Space by Chetan Joshi looks at the “regulatory bottleneck” that is currently being built up by the delay to the UMR and others. This article on the Securities Lending Times also looks at the impact of delays.

It is likely that such announcements will continue over the next weeks.

 

 

 

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity 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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