TITLE

European securities legislation to increase CIO's personal compliance accountability

AUTHOR(S)
Di Giammarino, P.J.
PUB. DATE
November 2005
SOURCE
Computer Weekly;11/22/2005, p24
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article presents the author's views on the evolving European regulation called the Markets in Financial Instruments Directive (MiFID), which will be delivered in less than two years if, as expected, the European Parliament puts out an approved version of the directive's wording before Christmas. According to the author, MiFID will introduce a single European securities market for all financial instruments. It means big changes for businesses and for CIOs. Across 73 articles, this extensive regulatory framework will change the way business is done in a bid to make Europe "the most dynamic and competitive knowledge-based economy in the world" by 2010. The legislation is very explicit about controls, organisation structures, reporting lines and business continuity plans, all of which must now be visible to a much wider group than in the past. It is also clear that senior management will be responsible for compliance and compliance policies. Failure to conform will leave the firm open to being fined or sued, plus the threat of jail for anyone found culpable of grievous mismanagement.
ACCESSION #
19111004

 

Related Articles

  • House GOP leaders plan broad bill for vote this fall. Rehm, Barbara A. // American Banker;9/29/1995, Vol. 160 Issue 188, p1 

    Reports that Republican leaders at the House of Representatives plan to link the repeal of the Glass-Steagall bill with regulatory reform legislation and bring the combined bill for deliberations. Effects of the legislative package; Inclusion of rescue package of the thrift insurance fund;...

  • Who watches the watchmen? Gearino, G. D. // Business North Carolina;Feb2010, Vol. 30 Issue 2, p14 

    The article presents the author's insights on the need for reform of securities regulation in the U.S. He argues that the lack of moral authority in financial regulation should be included in reform aside from reporting requirements, compensation limits, and supervision of investment...

  • Deregulation gathers momentum. Mosser // Futures: News, Analysis & Strategies for Futures, Options & Deri;Jan2000, Vol. 29 Issue 1, p12 

    Focuses on the repeal of the Glass-Steagall Act, which prevented banks, insurance companies and investment firms from dabbling in each other's businesses in the United States. Boost to the proposed deregulation of the futures industry; Discussions between futures industry regulators and...

  • House Passes Bill on Privacy. Davidson, Kate // American Banker;3/28/2012, Vol. 117 Issue 48, p7 

    The article gives information about a U.S. legislative bill, introduced by House Republican Representative from Michigan Bill Huizenga, which extends privileged information protections for financial institutions that share information with the Consumer Financial Protection Bureau.

  • Ohio Is Weighing Payday Fee Curbs. Waggoner, Darren // National Mortgage News;5/24/2010, Vol. 34 Issue 34, p12 

    The article reports on the plan of the Ohio General Assembly to introduce a legislation that will keep payday lenders from trying to make up revenue shortfalls in the U.S.

  • Cantor won't say if he supports repeal of Wall Street reform. O'Brien, Michael // Hill;7/22/2010, Vol. 17 Issue 86, p24 

    The author reflects on the statement of U.S. House Minority Legislator Eric Cantor that he will not call for the repeal of the financial industry reform law that President Barack Obama signed into law.

  • CUNA Backs Privacy Notification Fix.  // Credit Union Newswatch;12/4/2012, p2 

    The article focuses on support of the U.S. Credit Union National association (CUNA) and credit unions to the bill known as the Eliminate Privacy Notice Confusion Act (H.R. 5817) which eliminate financial institutions to issue costly privacy notices to members and customers.

  • German Government Initiates Actions to Stabilize Financial System.  // Venulex Legal Summaries;2008 Q4, Special section p1 

    The article reports on a White Paper released by the German government which includes a draft statute for the development of a fund to stabilize financial markets, amendments to several other relevant laws and a draft statute to facilitate the purchase of shares and risk positions in financial...

  • Reg NMS's Unintended Consequences. Mittelman, Deborah // Securities Industry News;11/14/2005, Vol. 17 Issue 38, p6 

    Explores the impact of the Regulation National Market System (Reg NMS), implemented by the U.S. Securities and Exchange Commission, on the securities industry. Efforts by the commission to modernize the regulatory structure of the equity markets in the country; Provisions of Reg NMS on...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics