Browsing: ESMA

Posts Tagged ‘ ESMA ’

AIMA on the Consequences of Brexit: Three Scenarios

Jul 5th, 2016 | Filed under: Newly Added, The A.I. Industry, Regulatory, Regulatory Environment

Among the questions that have acquired a great deal of urgency in recent days is: what will Brexit mean for MiFiD? Or for MAD? Or for the CMU? Britain has always been a major voice in the creation of these systems and directives within the EU. Where will hedge fundRead More


The Impending Market Abuse Regulation (MAR) Mandates

Apr 10th, 2016 | Filed under: Newly Added, The A.I. Industry, Regulatory, Regulatory Environment

On July 3, 2016 the new Market Abuse Regulation comes into effect throughout Europe, pursuant to 2014 legislation. The member states have transposed the MAR into national law.  Stefan Hendrickx is the founder and executive Director of Ancoa, recently looked at the “race to the MAR deadline” from the point ofRead More


Fractal Ambiguity in the AIFMD Passport Status of the U.S.

Aug 6th, 2015 | Filed under: Regulatory

What does the road to passport status look like for the US, regarding Europe's AIFMD? It looks rocky, and ESMA seems disinclined to draw a legible map. Instead it offers ambiguity and links to further ambiguity in the footnotes of its report.Read More


Bitcoin and Kin: The View from Europe

Jul 1st, 2015 | Filed under: Currencies, Derivatives, Digital currencies

Bitcoin's price charts nowadays seem to have settled into an equilibrium between $240 and $220 per. But ESMA, and the authorities in Sweden, are both paying attention. Read More


ESMA and EDHEC on Indexes and Tracking Errors

Feb 1st, 2012 | Filed under: Alpha Strategies, Indexes, ETFs

Since transaction costs and the illiquidity of certain portions of an index make ideal tracking impossible, there will be a difference between the return of a tracking ETF, such as those tracking ETFs that are structured as UCITS in Europe, and the return of the underlying index or benchmark. The European Securities and Markets Authority maintains that investors should be informed of the factors that are likely to affect the size and the volatility of this difference. Read More