This section describes some of the most relevant new regulatory requirements facing you as a customer to Nordea Markets. Our aim is to provide you with information and insights about important regulatory developments in an easily accessible and understandable way.
The Legal Entity Identifier (currently known as pre-LEI, later LEI) is a reference number to uniquely identify parties in financial transactions worldwide, throughout all markets and legal systems.
The pre-LEI code is initially used for the Trade Repository reporting requirement in EMIR, but will in the future also be required in other regulatory reporting, e.g. for MiFID II etc. Pre-LEI codes are required for all legal entities falling into one of the categories below...
Requires derivatives counterparties in EU to clear, report and risk mitigate derivatives transactions.
The European Union is introducing the European Market Infrastructure Regulation (EMIR) to enhance the efficiency and robustness of the derivatives market. The five main EMIR requirements for you as a derivatives trading corporate or institution are...
Establishes a new US regulatory framework for over-the-counter derivatives and encompasses rules in regards to trade execution, clearing and reporting of these.
In the wake of the 2008 financial crisis the regulators in the U.S. enacted the Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”)...
Implements the Basel III capital and liquidity re-quirements in the European Union to improve the re-siliency of the banking sector.
Basel III is being implemented in the European Union from January 2014 through the Capital Requirements Directive IV (CRD IV) and the Capital Requirements Regulation (CRR).
MiFID II was published in the EU Official Journal on 12 June 2014 and will be implemented in January 2018.
MiFID II represents an overhaul of the existing MiFID I rules regarding Equities and an extension of the scope to include non-Equities, such as bonds and derivatives
In February 2013, the European Commission presented a proposal for a Financial Transaction Tax (FTT) in 11 Member States.
The purpose is to disincentivise risky activities, to ensure the financial sector “fairly and substantially” contributes to covering the costs of the financial crisis and to generate tax revenues.
In January 2014, the European Commission presented a proposal for a Bank Structural Reform.
The proposal contains a ban on prop trading and exposure to hedge funds and a potential separation of “certain trading activities”.