Used by Delta Capita to publish ‘Points of View’ posts to the Publications section / the homepage of the main website.

ESMA guidance on Mifid II comes just in time

Giles Kenwright, head of regulatory advisory at Delta Capita, reacts to ESMA’s latest Q&A on Mifid II, as market participants face a race against the clock just over a year out from implementation. 

Hot on the heels of the FCA’s consultation paper at the start of this month, ESMA Q&A guidance for Mifid II undoubtedly removes a good chunk of ambiguity. Until now, the previously released RTS documents, which outlined the conceptual framework for Mifid II, were often far too vague to allow business or technical solutions to be implemented.

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R3 represents progress – but the Blockchain foundations still need to be laid!

With a host of big names continuing to sign-up to the Blockchain consortium R3, Trevor Belstead at Delta Capita explains why groundwork still needs to be done before distributed ledger technology solutions become a reality.

Like the well-known biblical reference about building a house on bedrock not sand – the same could very well be said of Blockchain. From an initial group of 9 to well over 50 firms in under a year, the R3 Blockchain R&D group has come a long way in a relatively short space of time.

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PSD 2 – General Overview

PSD 2 – General Overview

The Payment Service Directive (PSD, 2007) provided the legal foundation for the creation of a European Union-wide single market for payments. The Directive offered economies of scale and supported the Single Euro Payments Area (SEPA) in practice. Furthermore, the PSD is said to have eased access for both market entrants and payment institutions offering more competition and choice to consumers.

However, a remaining lack of access, ease of entry to payment services and increased digitisation has resulted in a fragmented and disrupted payment market, in which players at times remain in a grey spot of regulation. Therefore, in 2013, the European Commission (EC) started on creating the Payment Service Directive 2.

The objective of the PSD 2

With the PSD 2, the EC aims to:

  • Improve the level playing field for payment service providers (PSP’s) • Contribute to a more integrated and efficient European payments market
  • Improve the safety and security of payments
  • Further increase competition and innovation
  • Incorporate new payment initiatives into the regulation
  • Standardise and harmonise pricing and liability within the European Union

Click here to read the full overview

Introduction to Blockchain

Frenemies at the gate: Growing trend in banking consortiums

A curious cultural shift is taking place when it comes to problem-solving in the financial services industry. Follow this link to read an article written by our CEO on the growing trend in banking consortiums. The article considers conditions for collaboration, the different types of consortium and the critical set-up and management factors that position […]