Market Regulation


The EU Markets in Financial Instruments Directive (“MiFID”) regulation has been in force since November 2007 and will be revised with the aim of making financial markets more efficient, resilient and transparent, and to strengthen the protection of investors.


The European Market Infrastructure Regulation (“EMIR”) entered into force on 16 August 2012, with the aim of increasing stability in the Over The Counter (“OTC”) derivatives markets in the EU.

Dodd Frank Act

The Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA), signed into U.S. law in July 2010, is intended to promote financial stability, transparency and market integrity within the financial system.


The Securities Financing Transactions Regulation (Regulation (EU) 2015/2365, hereafter “SFTR”) came into force on 12 January 2016, although many of its requirements are subject to transitional provisions.