The chairman of the European Securities and Markets Authority (Esma), Steven Maijoor, says regulators are facing a 'conflict of law' as they try to resolve issues arising from differing transatlantic regulations on the protection of client collateral. In the US, banks can only offer an approach known as legal segregation with operational commingling (Lsoc), while the European Market Infrastructure Regulation (Emir) requires two types of accounts, neither of which matches Lsoc precisely.
The week on Risk.net, October 6-12, 2017Receive this by email
- SGX, HKEX expect to be among first wave of Mifid II equivalence
- Leaked EU doc could shield legacy swaps from clearing grab
- Quantile, TriOptima face off in cleared swaps compression battle
- ABS set for revival under US Treasury’s liquidity buffer plans
- Quants stymied by lack of alternative risk premia flows data