This category contains 14 posts

Brexit developments

While Brexit has been making general political headlines (for example see The Telegraph here), more sector specific issues are of key importance, if planning for March 2019 is to be at all possible. Last week Christopher Giancarlo, the Chair of the CFTC gave this speech at the Bürgenstock conference. The speech includes comments relating to … Continue reading

Brexit positions

The last few days has seen a few publications on the subject of Brexit. The UK’s Department of Exiting the EU has published several position papers over the past few days. These include this paper on enforcement and dispute resolution which proposes how the UK and EU can work in partnership on cross border issues. … Continue reading

Brexit considerations in energy and financial regulation

With the discussions on the details Brexit now taking place at governmental level (for example see this article on the Reuters web site), many in the market will wish to understand how the UK’s departure from the EU will affect business activity. Those in the Energy and Commodity sector will need to understand this on … Continue reading

More on EMIR

See here for an article on the Reuters web site which talks of the difficulties for some of preparing for the start of the new EMIR RTS, on 1st November. It features an interview with Collin Coleman of NEX who discusses the changes, and also the fact that for some Non Financial Counterparties, there will be … Continue reading

Brexit and the Internal Energy Market

The UK’s departure from the European Union, scheduled for March 2019, creates several areas of uncertainty in terms of the regulation of both the financial and energy markets. This article on the Euractiv web site summarises a report by Chatham House (see here) which argues that in the short term, if an agreement is not … Continue reading

MiFID II and third country equivalence

Many firms outside the EU, based in “third countries”, are in the process of understanding if and how MiFID II applies to them. One concept which makes compliance for such companies easier is that of “regulatory equivalence”, where a third country regulatory regime is recognised as equivalent, which lowers the barriers for third country firms. … Continue reading

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 … Continue reading

The Energy Union, Internal Market and Brexit

With the story in the UK around the “Brexit” process still unfolding, many are considering how the exit will impact the Energy Union and the UK’s role in it.  An event was held on 30th March in London by the Florence School of Regulation, European University Institute and the Robert Schuman Centre for Advanced Studies. … Continue reading

Brexit to be triggered today

Today will see the formal notification by the UK government under Article 50 of the Lisbon Treaty that the UK intends to leave the Union (for example, see here on the BBC web site). Officially the process takes 2 years, which would place the “Brexit” date at the 29th March 2019. The energy and commodities market … Continue reading

Article on regulatory change and architecture

See here for an article by Ian Sutherland on The OTC Space about implementing regulatory change and technology. While the article is focused on banking , the energy and commodity sector is in the process of grappling with similar issues. These are the ones of whether to approach regulatory change on a strategic or tactical … Continue reading