20 March 2017
Brussels
Reporter: Drew Nicol

EU securities lending due for fresh review


A European Securities Markets Authority (ESMA) advisory group has begun a new study of the EU's regulatory oversight of its securities lending markets, with a focus on a possible divergent application of the UCITS guidelines.

The securities and markets stakeholder group (SMSG), which acts as a conduit between the EU regulatory watchdog and key industry stakeholders, has voiced interest in undertaking its own initiative reports that would feed into ESMA’s own peer review, scheduled for the second half of 2017.

The SMSG has formed a working group of interested members to pursue the matter, led by consumer representative Jean Berthon.

During a steering committee meeting, ESMA chair Steven Maijoor welcomed the initiative, stating that “work on this topic would be of most value to ESMA”.

The SMSG provides ESMA with opinions and advice on its policy work and must be consulted on technical standards and guidelines and recommendations. It can also inform ESMA of any inconsistent application of EU law as well as inconsistent supervisory practices in member states.

The current SMSG is made up of 27 members from a wide cross-section of financial market stakeholders across 13 member states.

The group is currently serving a two-and-a-half year term that began 1 July 2016.

More news
The latest news from Securities Lending Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Overstock, Buckle and Dignity feature in FIS hot stock lists
24 January 2018 | London | Reporter: Zsuzsa Szabo
Overstock has regained prominence in the FIS Astec Analytics hot stocks list for the Americas, alongside Kodak and Buckle
BNP Paribas wins collateral access mandate from Aletti Gestielle SGR
23 January 2018 | Milan | Reporter: Jenna Lomax
BNP Paribas Securities Services has won a collateral access mandate from Aletti Gestielle SGR, an asset management firm based in Milan
James Burron to set up independent association
23 January 2018 | Toronto | Reporter: Jenna Lomax
Former AIMA COO James Burron is setting up an independent not-for-profit Canadian financial association
IHS Markit names Stuart Cornock as associate sales director
22 January 2018 | London | Reporter: Zsuzsa Szabo
Cornock has moved from Clearstream to IHS Markit
New York Fed confirms repo rate complaints
22 January 2018 | New York | Reporter: Zsuzsa Szabo
An audit of the Federal Reserve Bank of New York uncovered that the effective federal funds rate and overnight bank funding rate are in compliance with principles for financial benchmarks
James Burron has left AIMA
22 January 2018 | Toronto | Reporter: Jenna Lomax
James Burron has left the Alternative Investment Management Association
Hong Kong securities and derivatives markets break records in 2017
19 January 2018 | Hong Kong | Reporter: Jenna Lomax
Market capitalisation of Hong Kong’s securities market reached over $33 billion, while in the derivatives market total options trading reached over 137 thousand contracts