Part II UK Securities Markets, 8 Transaction Reporting

2021 ◽  
Author(s):  
Hanif Saima
Keyword(s):  
Financial Market ◽  
Competent Authority ◽  
Price Formation ◽  
Securities Markets ◽  
Regulatory Body ◽  
Reporting Requirements ◽  
The Uk ◽  
Financial Market Crisis

This chapter explains “transaction reporting” as the process by which detailed information about a transaction is submitted to the appropriate regulatory body. It draws attention to the European transaction reporting requirements, particularly Article 20 of the Investment Services Directive, that can be traced to 1993. It also discusses the significant expansion of the pan—European harmonised approach to transaction reporting in 2008, following the introduction of new measures to address weaknesses and close loopholes caused by the financial market crisis. This chapter outlines how transaction reporting provides the Financial Conduct Authority (FCA) in the UK with a representation of the transaction that informs the competent authority about all the relevant circumstances under which the transaction took place. It describes how transaction reporting is operationally and conceptually distinct from “trade reporting” that is more concerned with the price formation.

scholarly journals A trainee's perspective: Commentary on … the Postgraduate Medical Education and Training Board (PMETB) goes live

2005 ◽  
Vol 29 (11) ◽  
pp. 433-434
Author(s):  
Sanju George ◽  
Veena Math
Keyword(s):  
Medical Education ◽  
Postgraduate Medical Education ◽  
Competent Authority ◽  
Education And Training ◽  
Regulatory Body ◽  
Roles And Responsibilities ◽  
Medical Education And Training ◽  
The Uk ◽  
The Impact ◽  
And Training

The Postgraduate Medical Education and Training Board (PMETB) is an ‘independent regulatory body which sets standards, approves, quality assures and evaluates postgraduate medical education and training in the UK’ (Thomas, 2005). The Board was launched in September 2005, although it will be another 2–3 years before it will become fully functional as the single competent authority for postgraduate medical education and training. It is worth noting that the remit of the PMETB does not encompass undergraduate medical education, training for pre-registration doctors or dental education and training. The three important areas of activity of PMETB include approval of curricula and assessments, certification and quality assurance. The first two of these are of immediate and direct relevance to trainees. Brown's paper ‘The Postgraduate Medical Education and Training Board (PMETB) goes live’ (2005, this issue) gives an excellent overview of the origins, structure and roles and responsibilities of the PMETB. However, one key aspect that is not discussed in Brown's paper is the impact of PMETB on trainees and training. We will highlight some of these issues and discuss concerns which trainees have raised regarding changes to training which will arise in the wake of the PMETB.

Initiatives in UK Offshore Decommissioning Following the Wood Review: Applicability for Decommissioning in Norway

2021 ◽  
Author(s):  
Rune Vikane ◽  
Jon Tømmerås Selvik ◽  
Eirik Bjorheim Abrahamsen
Keyword(s):  
Swot Analysis ◽  
Oil And Gas ◽  
Petroleum Industry ◽  
Lessons Learned ◽  
Regulatory Regime ◽  
Regulatory Body ◽  
Cost Estimates ◽  
Substantial Impact ◽  
Gas Recovery ◽  
The Uk

Abstract The 2014 Wood Review is a report reviewing UK offshore oil and gas recovery and its regulation, led by Sir Ian Wood. The report identifies and addresses key challenges in the UK petroleum industry, among them the lack of a strong regulatory body and a decommissioning strategy. The UK petroleum industry is mature, and Norway may benefit from UK's experiences in decommissioning. The article investigates the applicability of the Wood Review recommendations for decommissioning in Norway. The analysis of the recommendations in the Wood Review is carried out by a SWOT-analysis of the general recommendations with a high potential impact on decommissioning as well as the five recommendations specific to decommissioning. The recommendations in the Wood Review were broadly accepted by UK authorities and formed the basis for numerous initiatives aimed at improving policies and practices in UK decommissioning. The key initiatives are presented to illustrate how the Wood Review recommendations has been interpreted. A summary of the key differences between the petroleum industries and the regulatory authorities in Norway and the UK is provided for background. Decommissioning in Norway face similar challenges to those identified in the Wood Review. The analysis indicates that several of the UK initiatives following the recommendations in the Wood Review has the potential of improving decommissioning in Norway. Differences in regulatory regimes between the regions may complicate the implementation of some of the initiatives following the Wood Review in Norway. In most cases only minor changes to regulations and/or practices are required. Recent UK initiatives with a high impact on decommissioning include increased focus on sharing of information and lessons learned, increased collaboration, the development of a decommissioning strategy, benchmarking of decommissioning cost estimates for all projects and the development and publishing of annual UK decommissioning cost estimates. There are indications that the Norwegian Petroleum Directorate (NPD) and the Norwegian Ministry of Petroleum and Energy (MPE) are falling behind their UK counterparts in key areas. Norway has limited experience with decommissioning, and scrupulous analysis of lessons learned in other regions is essential. Decommissioning of Norwegian offshore infrastructure is a major undertaking and even minor improvements may have a substantial impact on personnel risk, risk to the environment or the total decommissioning expenditure. The Norwegian regulatory regime has been an integral part of the Norwegian petroleum industry's success in previous decades, and changes to the regime require careful deliberation. The recent implementation of initiatives aimed at improving decommissioning regulations and practices in the UK represents a unique learning opportunity for Norwegian authorities. The analysis suggest that Norway may benefit from adopting some of the UK initiatives following the Wood Review recommendations.

Bußgeldrechtliche Sanktionierung juristischer Personen im neuen Marktmissbrauchsrecht

2021 ◽  
Author(s):  
Ann-Kristin Reinartz
Keyword(s):  
Financial Market ◽  
Legal Issues ◽  
European Level ◽  
Central Object ◽  
Corporate Group ◽  
Market Abuse ◽  
Principle Of Proportionality ◽  
The Individual ◽  
Financial Market Crisis

The main cause of the financial market crisis was the lack of effective and deterrent sanctions for market abuse and the inadequate enforcement of these sanctions. The European legislator has addressed this shortcoming by massively tightening sanctions – especially fines against legal persons. The thesis examines new legal issues that arise in particular from the increasing regulatory density at the European level. The central object of investigation is the tension between the need for deterrent sanctions and the preservation of the principle of proportionality as well as other constitutional principles at the level of the individual company as well as the level of the corporate group.

scholarly journals Alternative Securities Markets as Financing Sources for SMEs – Selected Aspects of AIM and NC

2017 ◽  
Author(s):  
Joanna Małecka
Keyword(s):  
Financial Market ◽  
Capital Market ◽  
Stock Exchange ◽  
Annual Reports ◽  
Stock Exchanges ◽  
Special Focus ◽  
Growing Stock ◽  
Warsaw Stock Exchange ◽  
Market Operation ◽  
The Uk

Small and medium-sized enterprises are the foundation for the development of each contemporary national economy. Their number affects macroeconomic indices of economies and directly translates into the labour market created by SMEs. This article aims to investigate the key conditionings behind the macroeconomic significance and legal factors of the financial market operation in Poland and the UK, with particular emphasis on the stock exchange as the fundamental element of the capital market. Both AIM and NewConnect are platforms dedicated to SMEs, which have been allowed easier access to this capital market segment by minimising mandatory legal conditions. This study analyses the number of listed companies and their capitalisation values in 1999–2015, covering: the rules of the financial market operation, with a special focus on the legal bases of the stock market operation in the economies investigated; legal conditions for the development of this economic segment; and a detailed analysis of the number of participants and capitalisation values achieved on the Warsaw and London Stock Exchanges, in particular AIM and NewConnect. This paper builds on source data from various annual reports and stock exchange publications drawn up and made available by stock exchanges and financial supervisors. The attempt to compare the indices and capacities of the WSE and the NC with the biggest European player is motivated by the fact that the Warsaw Stock Exchange is classified as the largest and most dynamically growing stock exchange in Central and Eastern Europe.

Budget Consolidation Options for the UK

2009 ◽  
Vol 210 ◽  
pp. 58-60
Author(s):  
Ray Barrell
Keyword(s):  
Public Sector ◽  
Financial Market ◽  
Economic Activity ◽  
The Past ◽  
Budget Consolidation ◽  
The Uk

The increase in UK public sector net borrowing in the past year, plotted in figure 1, has been in part a result of the decline in economic activity, and also a consequence of the change in housing and financial market transactions. The former is predictable with every 1 per cent decline in output below trend producing a decline in net revenues of of between one third and three fifths of a per cent of GDP depending upon the reason for the decline in output. The loss from the decline in asset-related revenues is harder to judge, but the April 2009 budget suggested that revenue losses might be more than 1 per cent of GDP.

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