What’s going on
around the world?
Regulatory calendar
Sport and lifestyle calendar
MiFID II: The European Securities and Markets Authority
is currently working on the technical standards for
MiFID II. These will need to be endorsed by the European
Commission, Parliament and Council before they come
into force. According to the UK FCA, countries have
until 3 July 2016 to adapt their domestic laws and
regulation to the revised legislation.
April
UK ‘Brexit’ referendum: on 23 June, voters in the
United Kingdom will decide whether or not to leave the
European Union. The referendum could result in painful
negotiations between the UK and other EU member states
if the UK public votes to leave the Union.
The Senior Managers and Certification Regime:
UK buy-side firms have until 7 March 2017 to prepare
for the new regulatory framework which seeks to make
individuals more accountable by documenting their specific
responsibilities within the firm among other measures.
Remuneration under UCITS IV: European regulator
ESMA is due to publish final remuneration guidelines early
this year. Investment firms will need to apply enhanced
rules for senior managers on remuneration and clawbacks.
EMIR margin requirements: variation margin
requirements for non-cleared trades in the derivatives
markets will take effect on 1 September 2016 for large
market participants and 1 March for all others.
AIFMD: European regulator ESMA is expected to finalise
its guidelines on asset segregation under the AIFMD and
publish a final report before the end of 2016.
26
The Buy-side Perspectives | Issue 3 | April 2016
Athletics: Boston Marathon
18 April
Rugby Union: European Champions Cup
22 April
Football: FA Cup Semi-finals, Wembley
23-24 April
Athletics: London Marathon
24 April
Football: Champions League Semi-finals
Formula 1: Russian Grand Prix, Sochi
26-27 April
29 April
May
Ice hockey: IIHF World Championship,
Moscow & St. Petersburg
6-22 May
Football: FA Cup Final at Wembley Stadium
Tennis: French Open, Paris
21 May
22 May onwards
Football: Champion’s League final, Milan
28 May