The Legislative Landscape - Risk & Compliance

Capital Markets Compliance examples.

An area that may be considered by some as high risk is Capital Markets and this leads to specific legislations/Risk and Compliance in these areas examples are:

• MiFID - (Markets in Financial Instruments Directive). On 20 October 2011, the European Commission (EC) adopted a legislative proposal for the revision of MiFID. The proposals take the form of a revised Directive and a new Regulation, which together are commonly referred to as ‘MiFID II’.
• EMIR - (European Market Infrastructure Regulation) introduces an obligation to report all derivatives to trade repositories; a clearing obligation for eligible OTC derivatives, measures to reduce counterparty credit risk (as discussed above as a risk factor) and operational risk for bilaterally cleared OTC derivatives, as well as common rules for central counterparties (CCPs) and for trade repositories.

• PCI DSS - The Payment Card Industry Data Security Standard (PCI DSS) is a proprietary information security standard for organizations that handle cardholder information for the major debit, credit, prepaid, e-purse, ATM and POS cards.
• PSD / PSR - PSD3 and PSR aim to further modernise digital payments within the European Union and to enhance the coherence of the directive implementation in the Member States, building upon the foundation established by the first and the second payment services directives (PSD1 and PSD2).