Lukas Staub’s Post

IOSCO's examination of the changing dynamics of exchanges could have major implications for a select few massive groups. The regulatory body is set to call out several exchanges for acting more like corporations than transparent and open markets. This begs the question - should financial institutions continue to operate across so many business lines, or are there too many conflicts of interest? As a little person in all of this, my concern is whether we can afford the unintended consequences of punishing these institutions if they break our trust. Check out the article for more information. #IOSCO #Exchanges #Compliance

The AFME (Association for Financial Markets in Europe) has published a Policy Roadmap on Scaling DLT-based Capital Markets, which notes that #distributedledgertechnology (#DLT) in #capitalmarkets is moving into a new phase, where market developments are moving beyond proof-of-concept towards issuances of bonds with demonstrated liquidity and benefits throughout the security lifecycle. The paper considers the need for innovative and decentralised financial market infrastructure, highlighting the policy and regulatory changes needed to enable development and growth of DLT-based capital markets. AFME calls for a number of policy and regulatory changes, including ensuring that: -> security record-keeping requirements are compatible with use of DLT; -> making provision for DLT-based settlement finality; and -> ensuring a harmonised and consistent approach to custody requirements for security tokens across European countries. Read more: https://lnkd.in/e4uiuKY2 *Image courtesy of the AFME Policy Roadmap

💡 The CySEC has successfully launched its Regulatory Sandbox virtually on the 11th of June 2024. During the online event, the attendees were briefed on the operational framework and benefits of the said Sandbox, while also having the opportunity to get answers to their questions concerning the specific subject. 👇Click on the hyperlinked image below for more specifics AND 🌏Follow us for all your regulatory update needs #CySEC #Cyprus #RegulatorySandbox #Sandbox #FinTech #RegTech #SupTech #DeneoPartners #Consultingfirm #Incorporation #Globallicensing #Regulatory #Banking #PSPs #Accounting

⚠️ 𝗖𝘆𝗽𝗿𝘂𝘀-𝗯𝗮𝘀𝗲𝗱 𝗘𝗠𝗜𝗥 𝗿𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝗲𝗻𝘁𝗶𝘁𝗶𝗲𝘀: CySEC - Cyprus Securities and Exchange Commission has issued circular C633 regarding the process for the notification for errors and omissions under 𝗘𝗠𝗜𝗥 𝗥𝗘𝗙𝗜𝗧. Read more 👉https://lnkd.in/dgKV6JXY 📧 Stay connected for more valuable updates! 𝗖𝗼𝗻𝘁𝗮𝗰𝘁 𝗼𝘂𝗿 𝘁𝗲𝗮𝗺 𝗼𝗳 𝗲𝘅𝗽𝗲𝗿𝘁𝘀 and achieve a seamless transition to the new reporting regime at 𝗶𝗻𝗳𝗼@𝗺𝗮𝗽𝗳𝗶𝗻𝘁𝗲𝗰𝗵.𝗰𝗼𝗺 #emir #refit #regulatoryreporting #regtech #fintech #regulatorycompliance #mapfintech https://lnkd.in/eRmJRfgv

The UK Digital Securities Sandbox #DSS is now open for applications The Bank of England and Financial Conduct Authority #FCA initiative will allow firms to experiment with new or different practices and developing technology. ➡️ The Sandbox will allow firms to operate under a temporarily modified legal and regulatory framework, facilitating the use of developing technology, including distributed ledger technology #DLT Firms can learn more about applying for the DSS and should review the accompanying regulatory guidance on the initiative to understand regulators’ approach and the requirements on participants. 💡 Plenitude’s Digital Assets Practice can help your firm navigate the application process. Visit our website for more information: https://lnkd.in/eDutppq7  Learn more: https://lnkd.in/e8bskmPG

FSB Proposes Recommendations to Address Leverage in NBFI - Regulation Asia: Fintech / Regtech · Market Infrastructure · Securities & Trading · Jurisdictions · Asia-Pacific · Australia & NZ · China · Hong Kong · India · Japan ... #regtech #cdo #datagovernance

📢 The CySEC - Cyprus Securities and Exchange Commission has successfully launched the #Regulatory #Sandbox during an online event held today. This initiative marks a significant milestone in the advancement of #financial, #regulatory, and #supervisory technologies (FinTech, RegTech, and SupTech) in Cyprus. #innovation #regulatory #sandbox #supervision #cysec #cyprus

ESMA has published a letter to the European Commission, the Parliament, and the Council providing an interim update on the #DLTPilotRegime. The letter is very relevant due to the fact that it provides an update on the status of different applications received by the National Competent Authorities and also identify challenges and opportunities. I would like to point out the following topics and concerns: 👉 No DLT market infrastructures have been authorised under the Pilot Regime to date 👉 ESMA requests further clarifications on non-custodial wallets under MiCA including to what extend there may be an overlap with custody services under MiCA / MiFID 👉 ESMA points out that there is an important challenge related to interoperability between DLT market infraestructures and traditional market infraestructures as well as among DLT market infraestructures themselves 👉 ESMA requests a clarification (as soon as possible) on the extension of the DLT Pilot Regime beyond the potential adittional 3 years from 2026 👉 ESMA highlights that the low thresholds for the DLT financial instruments that are admitted to trading on a DLT market infrastructure or that are recorded on a DLT market infrastructure may undermine the competitiveness of the DLT Pilot Regime. Thus further flexibility would be appreciated. Happy friday! #financialregulation #DLT #PilotRegime ONTIER

📣ESMA new page dedicated on DLT Pilot Regime. As part of the Digital Finance package with #MiCA and #DORA, the #DLT pilot regime provides the legal framework for trading and settlement of transactions in crypto-assets that qualify as financial instruments under #MiFID II, while facilitating the set-up of new types of market infrastructures, including: - DLT multilateral trading facility (DLT MTF)
- DLT settlement system (DLT SS)
- DLT trading and settlement system (DLT TSS) Who is eligible? 🔷Authorised investment firms and market operators may apply to operate a DLT multilateral trading facility (DLT MTF) 🔷Authorised central securities depositories (CSDs) may apply to operate a DLT settlement system (DLT SS) 🔷Both groups may apply to operate a combined DLT trading and settlement system (DLT TSS) 🔷New entrants may apply for temporary authorisations as investment firms/ market operators or CSDs, alongside an application under the DLT Pilot Regime What financial instruments are in scope? 🔷Shares – market capitalisation/tentative market capitalisation below EUR 500 million 🔷Bonds – other forms of securitised debt, including depositary receipts in respect of such securities or money market instruments with an issuance size of less than EUR 1 billion (corporate bonds from issuers whose market capitalisation did not exceed EUR 200 million at the time of their issuance are not subject to this threshold) 🔷UCITS – market value of assets under management of less than EUR 500 million 📌More information on the official page https://lnkd.in/eKGCxJJs

It was a big week for Chatsworth client REGnosys, who announced a new partnership with The Depository Trust & Clearing Corporation (DTCC).    The collaboration aims to support industry adoption of the ISDA Digital Regulatory Reporting (DRR) solution and foster compliance with forthcoming global derivatives trade reporting rewrites.   As part of the partnership, REGnosys’s Rosetta platform is connecting to the testing environment of DTCC’s Global Trade Repository service.   To find out more, read the article in Securities Finance Times here: https://lnkd.in/ekdfWbiJ   #DTCC #ISDA #DRR #reportingrewrites #digitalregulatoryreporting #EMIRrefit #CFTCrewrite #Regtech #fintech