The focus on financial services by global economists, regulators and policy makers, has never been as significant in all of history, as it has over the past 12 years. Notably, much of that has been led in Europe, where the financial crisis of 2007/8 as well as the ongoing climate crisis, have given rise to a series of regulatory imperatives and initiatives across all markets, including securities lending and financing.
Much of the regulatory agenda around these markets can be traced back to a series of recommendations from the Financial Stability Board in 2013. It is these very recommendations that have led directly to legislation such as the Securities Finance Transaction Reporting (SFTR) legislation. Much of of this work has also manifested itself in other areas such as MiFID and UCITS-specific guidelines and regulations. More recently, the agenda seen from the European Commission (EC) has been evolving to reflect a growing focus on areas such as climate change and sustainable finance.
The following timeline visual looks out to 2023, and plots the key legislative proposals, implementation dates and strategies that the European Commission (EC) is focused on, and impacts our markets. By hovering over each milestone, you can access links to relevant pages within the site or direct external references..