Since 2009, the re-regulation by EU authorities of secondary markets trading – affecting investment banking, non-bank brokerage and asset management industry activities on a cross-asset class basis – was executed in earnest via mandates including MiFID II and the European Market Infrastructure Regulation.
Shadow banking sector regulation has, however, taken longer for EU regulators to implement, in part due to the already quasi-regulated nature of the transactional operations of companies within the system and also due to the overall complexity of the interwoven nature of securities financing transactions with money markets activity and asset-backed products securitisation.
In addition to exploring the implementation and compliance obligations of SFTR, MMFR and SR for the EU-domiciled funds management industry, this report also assesses the landscape for technology vendor solutions that can be used for transaction reporting purposes.
