Daily Management Review

Security Watchdog Of E.U. Scrutinises Brexit Risks With ‘Rating Agencies’


02/03/2017


In an attempt to provide stable finance market following Brexit, ESMA asks for disclosure on trade records.



The “credit rating agencies” along with their bodies were asked by the “securities watchdog” of the European Union to disclose the records of “derivative trades” revealing “how they would” stop the market disruption once Britain’s exit from the bloc becomes functional.
 
The ESMA, or the “European Securities and Markets Authority” in direct regulation of around thirty “credit rating agencies”, for example “Moody's and Standard & Poor's”. Moreover, it also overlooks “six trade repositories” that monitor “derivatives transactions”. Many “repositories” and rating agencies are based out of London and reach out to “serve customers across the bloc”. Moreover, given the fact that Brexit will be officially effective in the year of 2019, questions about the continuity of these companies’ serves take a front seat.
 
As a result, ESMA declared that its “annual supervision plan” incorporates “an assessment of the ‘potential implications’ of Brexit”, being in line with the objective of the watchdog to enhance “investor protection” and to promote “stable and orderly financial markets”. ESMA added:
“ESMA has also started engaging with CRAs and TRs that may be affected by the outcome of the referendum to understand the preparations these entities are making”.
 
 
References:
http://www.reuters.com







Science & Technology

Toyota & Cartivator Are Building Flying Cars To Light Up The Olympic Flame Of 2020

Stock trading computers are not a future anymore

Temper Technology With Humanity - Apple's Cook Tells MIT Graduates

As Spying And Crime Tools Mix, Blame Game For Cyber Attacks Grows Murkier

Retailers Could Transform The Market Scenario Into Smart Shopping Experience For The Consumers With The Cloud

A Way To Unlock Wannacry Without Ransom Found By French Researchers

China to introduce face recognition payment system

Clues To Ransomware Worm's Lingering Risks Found By Security Experts

Nasdaq Brings ‘Analytics Hub’ To Provide Enhanced Trading Experience

Through XFi Launch, Comcast Moves Closer To Home Connectivity

World Politics

World & Politics

Trump to speak for America's dominance in the energy sector

U.S. Official Says Russians Targeted 21 Election Systems

The Britain’s Prime Minister To Bring Down Corporate Tax To Draw More Investments In The Country

Record 65.6 million people were displaced in 2016

Are millionaires preparing for an apocalypse?

EU says goodbye to mobile roaming charges

Denmark loses interest to electric cars

Global Airlines Conference Agenda To Accord Importance To Fresh Safety Concerns