ESMA Fines DTCC for Data Access Failures
Trade repository 'was negligent,' says regulator
The European Securities and Markets Authority (ESMA) has fined the Depository Trust and Clearing Corporation (DTCC) for data access failures related to reporting under the European Market Infrastructure Regulation (EMIR).
ESMA issued the fine of €64,000 ($72,826) on March 31.
This is the first action of its kind that ESMA has taken against an EU-registered trade repository, the authority said.
The DTCC, an industry co-operative, operates the DTCC Derivatives Repository Limited (DDRL), Europe's
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Regulation
Waters Wrap: On cybersecurity, regulators and ‘victim blaming’
In the wake of the Ion hack, regulators are pushing for firms to beef up their cyber defenses. Anthony says that they'll need to mind their words and tread carefully, as cloud, machine learning and open source take off.
US Libor cessation: DTCC helps fill the void
In the run-up to the transition from Libor to an alternative reference rate at the beginning of July this year, DTCC’s Ann Marie Bria looks at the various permutations impacting market participants and the role DTCC is playing in helping firms navigate…
Three steps to build resilience to cyber attacks
As cyber criminals grow more sophisticated, and regulators bear down on banks and their third parties, there are three steps firms can take today to boost their resilience to cyber threats, says Jason Harrell of the DTCC
EU lawmakers struggle to find common ground on equities CT
The debate over a consolidated tape for European equities heated up when a second contender for the role of provider emerged during the EU’s trilogue process. But as the bloc’s three legislative bodies try to reach a compromise, commercial interests are proving inescapable.
French regulator turns up the heat with spot checks on market data providers
The AMF’s move has left industry observers wondering if this will lead other regulators in Europe to follow suit.
Does the case against Cusip have legal merit? We’re about to find out
As the parties involved in the Cusip lawsuit wait to see whether the case will proceed to trial, Reb discusses what it might mean if the defense's claim that the case has no legal merit is true.
Waters Wrap: Regtech hype evolves—for better and worse
As fines levied by the FCA and SEC rise, so too has spending on 'regtech.' But Anthony warns that for the regtech space to evolve further in the future, it must first initiate changes to its ecosystem.
Regulation Best Ex: Investors’ ‘new bestie’ or just extra hassle?
The SEC's proposed best execution regulation has ruffled some feathers. With a host of key details still to be resolved, industry experts say the rule in its current form could represent a big change in the way orders are handled.
