slide1

ESMA – MIFIR/MiFID II

MiFIR is a set of rules that are created alongside the new MiFID II directive. MiFID II is the Markets in Financial Instruments Directive (2004/39/EC). It has been applicable across the European Union. It is a cornerstone of the Europran Union's regulation of financial markets, seeking to improve their competitiveness by creating a single market for investment services and activities and ensuring a high degree of harmonized protection for investors in financial instruments.

The core focus of MiFIR is related to rules and reporting requirements of executions.

  • Trading venue transparency: These are rules regarding information that trading venues need to publish. Also are rules related to volume allowances of trading members and what products need to be traded on a trading venue.
  • Trade reporting: These are trade transparency rules applicable to investment firms and systematic internalizers. This part of MiFIR requires basic details of trades to be reported to an Approved Publication Arrangement in near real time.
  • Transaction reporting: Set of rules regarding reporting of trade details in T+1 to an Approved Reporting Mechanism (ARM). Information is much more detailed than trade report requirements and also includes details of who the buyer and seller are and how the trade was executed.

Monetary Authority of Singapore (MAS)

Monetary Authority of Singapore (MAS) is Singapore's financial regulatory authority who promotes sustained economic growth through appropriate monetary policy formulation and close macroeconomic monitoring of emerging trends and potential vulnerabilities. MAS is also entrusted with overseeing all financial institutions in Singapore -- banks, insurers, capital market intermediaries, financial advisors, and the stock exchange. With its mandate to foster a progressive and sound financial services sector in  Singapore, MAS also helps shape exchange policies conducive to the growth of the economy and help Singapore's financial industry by promoting close adherence to international accounting standards. 

MAS ensures that Singapore's financial industry remains strong, dynamic and competitive by working closely with other government and financial institutions and promote Singapore as a regional and international financial center.

Superintendencia Financiera de Colombia (SFC)

SFC is tend for the solvency, discipline and supervision of the Financial System of Colombia. The Financial Superintendency of Colombia is a technical agency attached to the Ministry of Finance and Public Credit, with legal status, administrative and financial autonomy and its own assets. The objective of the Financial Superintendence of Colombia is to supervise the Colombian financial system in order to preserve its stability, security and confidence, as well as to promote, organize and develop the Colombian securities market and the protection of investors, savers and policyholders.