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ICAS
February Newsletter - Issue 57/2020
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Announcements
EIOPA
Publicly consults on implementing technical standards for supervisory reporting and cooperation for the Pan-European Personal Pension Product ("PEPP")
20 February 2020
The European Insurance and Occupational Pensions Authority ("EIOPA") launched the public consultation on implementing technical standards for supervisory reporting and cooperation as mandated by the Pan-European Personal Pension Product ("PEPP") Regulation. The proposals specify the annual supervisory reporting requirements on PEPP and formalise the notifications required by the PEPP Regulation to facilitate efficient processes in the cooperation between competent authorities and EIOPA. The regular, annual submission of information on the PEPP business and efficient communication channels between competent authorities are key building blocks of the supervisory framework for the PEPP. For more information please press here.
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ESMA
Finds continued high risks as financial markets remain highly volatile
19 February 2020
The European Securities and Markets Authority ("ESMA"), the EU’s securities regulator, publishes the first Trends, Risks and Vulnerabilities ("TRV") report of 2020. ESMA identifies continued high risks and a weaker economic outlook as markets remain highly sensitive to geopolitical events. The risk outlook is stable, however risks are high, particularly in the securities markets and for retail investors. For more information please press here.
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EBA
Shows banks’ progress in planning for failure but encourages them to issue eligible debt instruments
17 February 2020
The European Banking Authority ("EBA") published today its first quantitative Report on minimum requirements for own funds and eligible liabilities ("MREL") under a new methodology. The report shows that authorities have made strong progress in agreeing resolution strategies and setting related MREL requirements but it also notes that banks need to issue MREL eligible debt to close their shortfall.  For more information please press here.
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Other Alerts
FCA
Highlights its areas of concern in financial services markets
18 February 2020
"The Sector Views look at the impact of macroeconomic developments and common drivers of change emerging across financial markets. They also outline areas where there may be a negative impact on consumers or the integrity of the financial system in that sector. The report sets out what factors are driving harm, as well as considering how the harm may develop over time." For more information please press here.
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Market News
Reuters
European shares mark worst day in 3 weeks on weak earnings, virus risks
21 February 2020
"European shares eased from record highs, as a raft of disappointing earnings added to concerns about the global impact of the coronavirus outbreak after research suggested the illness is more contagious than previously thought." For more information please press here.
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Bloomberg
Stocks drop, treasuries advance on virus concern: Markets wrap
20 February 2020
"U.S. equity futures dropped with Asia stocks while shares edged lower in Europe amid renewed concern about the impact of the coronavirus after cases increased outside of China. Treasuries and gold advanced. Futures on the three main American equity gauges pointed to losses at the open while equities in Korea and Hong Kong saw declines of more than 1%. The Stoxx Europe 600 Index pared declines, with losses in energy and automaker shares countering gains in utilities and real estate. Treasuries climbed, pushing the yield on 10-year securities below 1.5% for the first time since September." For more information please press here.
 
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Financial Times
US stocks retreat from record highs
20 February 2020
"Sell-off sees European equities finish in the red." For more information please press here.
 
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Bloomberg Professional
LIBOR’s death has one debt guru horrified Asia isn’t ready
18 February 2020
"When Andrew Ferguson talks to financial professionals across Asia about the looming demise of LIBOR, he’s often shocked at how little they seem to know about one of the most far-reaching changes to the global financial system in decades." For more information please press here.
 
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Cryptocurrencies
Bloomberg
Bitcoin goes wild as volatility jumps to three-month high
20 February 2020
"Bitcoin volatility is back to levels not seen since early November, with the bulls and bears sparring at the $10,000 price level. Historical swings over the past 10 days on the Bitcoin-U.S. dollar pair surged to 65% on Wednesday, the highest level since Nov. 6, according to data compiled by Bloomberg. Bitcoin plunged late in yesterday’s session, going from being little-changed at $10,168 to a drop of more than 8% to $9,327 about 45 minutes later. It recovered somewhat after that, and traded Thursday at $9,501 as of 12:52 p.m. in New York." For more information please press here.
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Regulatory Reporting Solutions
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Treppides Regulatory Reporting offers extensive reporting solutions under EMIR, MIFID, CRD IV, FATCA, CRS, REMIT towards MiFID II / MiFIR and CRS in all EU/ESMA jurisdictions like Cyprus (CySEC) and UK (FCA) and soon will also comply with foreign jurisdictions such as ASIC DTR. 

Contact us directly at info@treppidesrr.com to discuss your tailor made solution.
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