Brexit and the evolving landscape of the asset management sector: Speech by Michael Hodson, Director of Asset Management and Investment Banking
In his speech, Mr Hodson spoke about the continued uncertainty in the asset management and investment banking industries in the wake of Brexit. He then discussed some of the potential Cliff Effect that may arise in the event of a hard Brexit, along with some of the changes we are seeing in the Irish financial service landscape as a result of Brexit. He then laid out the expectations for investment firms, both existing supervised and newly authorised in the event of a transitional period.
MIFID II: ESMA issues latest double volume cap data
The European Securities and Markets Authority (ESMA) has updated its public register with the latest set of double volume cap (DVC) data under the Markets in Financial Instruments Directive (MiFID II). These updates include DVC data and calculations for the period of 1 November 2017 to 31 October 2018 as well as updates to already published DVC periods. In addition, ESMA highlights that some trading venues in the meantime have submitted corrected data that affects past DVC publications. For one instrument, this means that the previously identified breach of the cap proved to be incorrect and the suspensions of trading under the waivers should be lifted.
For further information please contact a member of the Financial Regulation team.