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Cum-ex tax loophole isn't closed, warns German tax expert
01 March 2021 Belgium
Reporter: Drew Nicol

The EU’s tax subcommittee heard that the upcoming criminal trials may allow prosecutors to recoup most of the estimated €55 billion lost tax revenue to related parties that benefited from the suspect's cum-ex scheme

Bursa Malaysia extends intraday shorting ban
01 March 2021 Malaysia
Reporter: Drew Nicol

Malaysia’s financial market regulator and exchange are extending the restrictions on intraday short selling that was due to expire yesterday until 29 August

Deutsche Boerse enhances ESG focus with ISS acquisition
01 March 2021 Germany
Reporter: Maddie Saghir

Deutsche Boerse and ISS are now able to serve the growing demand for in-depth extra-financial data, research and analytics

Global ESG standards body needed, IOSCO says
26 February 2021 Spain
Reporter: Alex Pugh

A leading international securities regulatory body is calling for a three-pronged approach to achieve globally consistent and reliable sustainable financing disclosure standards

SWIFT approves KDPW ISO20022 buy-in message for CSDR
26 February 2021 Poland
Reporter: Drew Nicol

As the first buy-in messages ever to be registered, they set the reporting standard, developed from scratch in ISO20022, KDPW says

Exclusive: Scotiabank’s Robert Zekraus to lead Pirum’s North American business
25 February 2021 US
Reporter: Alex Pugh

The banking veteran will lead the London-based reconciliation services’ firm’s North American activities

HQLAᵡ appoints BNY Mellon’s Simon Squire to board
25 February 2021 UK
Reporter: Alex Pugh

The clearance and collateral strategist joins the collateral mobility firm from BNY Mellon following the bank’s recent investment in the blockchain-powered collateral mobility provider

GMSLA pledge docs now recognise BNY Mellon as a collateral manager
25 February 2021 UK
Reporter: Drew Nicol

ISLA has released a new edition of its GMSLA pledge structure documentation which now supports BNY Mellon SA/NV as a collateral manager

Exclusive: 11th hour deal breakdown cut off KDPW clients from UK EMIR services
25 February 2021 Poland
Reporter: Drew Nicol

The Polish trade repository quietly cut UK EMIR reporting from its available services after a late-stage deal it had negotiated with an on-shore TR to divert business through as of January fell through weeks before the Brexit deadline

SEC commissioner hints at post-GameStop regulatory landscape
24 February 2021 US
Reporter: Alex Pugh

An SEC commissioner’s speech has given some indication of where the agency stands on further regulations post-GameStop

DTCC proposes move to shorten US settlement cycle to T+1 by 2023
24 February 2021 US
Reporter: Becky Bellamy

In order to move to T+1, DTCC says industry participants must align and agree to shorten the settlement cycle by implementing the necessary operational and business changes, and regulators must be engaged

Citadel and Robinhood call for T+1 settlement cycle
23 February 2021 US
Reporter: Maddie Saghir

The CEOs of Citadel and Robinhood are calling for the US settlement system to be overhauled and shortened to protect against a repeat of the January GameStop volatility