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ESMA publishes new Q&A on investor protection under MiFID II
October 10, 2016--The European Securities and Markets Authority (ESMA) has published a Questions and Answers (Q&A) document regarding the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).
MiFID II will enter into application on 3 January 2018 and will strengthen the protection of investors by both introducing new requirements and strengthening existing ones.
view the Questions and Answers on MiFID II and MiFIR investor protection topics
Source: ESMA
First Trust Global Portfolios Limited Announces Change to Investment Objective and Name of First Trust Global AlphaDEX(R) UCITS ETF
October 6, 2016--On or about 7 October 2016, First Trust Global AlphaDEX(R) UCITS ETF (the "Fund") will change its investment objective to seek investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an index called the NASDAQ Global High Equity Income Index (the "New Index").
The New Index is a modified market capitalization index developed and maintained by Nasdaq, Inc. ("Nasdaq") that is designed to objectively identify and select stocks from the NASDAQ Global Index.
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Source: First Trust
ESMA consults on MiFID II guidelines regarding trading halts
October 6, 2016--The European Securities and Markets Authority (ESMA) has issued today a public consultation regarding draft guidelines on trading halts under the Markets in Financial Instruments Directive (MiFID II).
MiFID II provides that Member States shall require a regulated market to be able to temporarily halt or constrain trading if there is a significant price movement in a financial instrument on that market or a related market during a short period and, in exceptional cases, to be able to cancel, vary or correct any transaction.
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Source: ESMA
ESMA publishes updated AIFMD Q&A
October 6, 2016--The European Securities and Markets Authority (ESMA) has published an updated questions and answers document on the application of the Alternative Investment Fund Managers Directive (AIFMD).
The Q&A includes one new question and answer on the commencement of periodical reporting pursuant to Article 13 of the Securities Financing Transactions Regulation for Alternative Investment Fund managers.
view the Questions and Answers-Application of the AIFMD
Source: ESMA
STOXX-Pulse Online-Are Robo Advisors Regulated?
October 5, 2016--As the digitization of financial services is still on the rise, a growing number of financial institutions offer automated tools when providing advice or recommendations to customers.
PULSE ONLINE recently reported on the rise of the so-called robo advising. This rise is not only a challenge for established financial services firms that are not yet riding the technology wave but also for the financial authorities in the EU.
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Source: STOXX
Service Sector Reforms Could Boost EU, Including Croatia's Productivity by Average of 5%, Says World Bank
October 5, 2016--While EU growth is projected to remain low, with limited scope for quick policy fixes, a new World Bank report says reforming the service sector could significantly boost incomes and convergence.
The World Bank EU Regular Economic Report (EU RER) projects that service sector reforms could increase productivity by an average of 5 percent, providing more and better jobs, stimulating investments, and deepening integration.
Currently, growth in the EU is expected to reach about 1.6 percent in 2016-17, driven by low oil prices and a supportive monetary policy, while in Croatia it is expected to be about 2.2 percent.
view the EU Regular Economic Report-Growth, Jobs and Integration: Services to the Rescue
Source: World Bank
National Statistics: UK official holdings of international reserves: September 2016
October 5, 2016-This monthly release shows details of movements in the UK's official holdings of international reserves, or assets.
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Source: HM Treasury
Boerse Stuttgart generates turnover of around EUR 6.3 billion in September
October 5, 2016--Trading in investment products exceeds total for previous month
Based on the order book statistics, turnover at Boerse Stuttgart in September 2016 was around EUR 6.3 billion.
The lion's share of this total was attributable to securitised derivatives with a trading volume of around EUR 2.7 billion.
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Source: Boerse Stuttgart
ESMA consults on requirements for the management of trading venues and reporting services providers
October 5, 2016--The European Securities and Markets Authority (ESMA) has today issued a consultation paper on draft guidelines which will further detail the implementation of the Market in Financial Instruments Directive (MIFID II).
The guidelines provide draft provisions management bodies of market operators and data reporting services providers will have to apply once MiFID II has entered into force.
ESMA consults on product governance guidelines to safeguard investors
October 5, 2016--The European Securities and Markets Authority (ESMA) has opened a consultation on product governance guidelines under the Markets in Financial Instruments Directive (MiFID II) regarding the target market assessment by manufacturers and distributors of financial products.
The requirements on product governance were introduced under MiFID II to enhance investor protection by regulating all stages of the life-cycle of products or services in order to ensure that firms which manufacture and distribute financial instruments and structured deposits act in the...
view the Consultation Paper on Draft guidelines on MiFID II product governance requirements
Source: ESMA
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