Hedge funds push UK watchdog for a post-Brexit cut in reporting rules

Stay informed with free updates

Just sign up to British financial settlement MYFT DIGEST – Shipped directly to your inbox.

Hedge Funds seeks to use broom and use a global transformation disk, calling for a British financial guard to the reporting requirements for the industry.

According to the rules of the EU, the authority of Britain’s financial behavior requires market transactions, which should be reported, including fencing, including fencing facilities, such as investment banks.

Hedge funds are complaining, it is unnecessary replication of efforts and lobbyes to FCA so that the EU cannot follow the rules.

The field believes that political winds have been moved to its favor, as the British government is putting pressure on Reds to cut the red ribbon in support of the stagnant economyA number

For Deregulation’s wave in the United States, Donald Trump is a reduction in bureaucratic burden of London.

“Reducing unnecessary and cost-effective demands on governors to maintain the regulatory control will increase the attractiveness of the United Kingdom as a global financial service center,” said Brian Korbeth, Chief Executive Officer of the Association of Measures.

The Foreign Ministry said. “Reference to FCA’s transaction reports to remove supporters of purchase, as the bilateral report is duplicated, expensive and inefficient.”

FCA hopes for the field that the discussion document will announce the reporting rules in November markets are more attractive. “

The observer receives more than 7 billion reports for more than 20 million-different reporting tools in the British financial markets, such as shares, the future, the total returns.

For such transactions, the value of British financial companies is estimated at more than 500 million pounds per year on a letter sent by the London-Hedge Fund to FCA on Friday.

AIMA Executive Director Adam Jacobs-Dean Adam Jacobs-Dean said his members “Regularly isolated transactions, as one of the most important compliance.”

“We strongly support the removal of” buying “investment companies from the scope of the reports of the transaction report. A number of a number of the facts that the sellers of the vending side, with whom these firms are transactions, also reported that transactions, “he said.

Such a step will not reduce the quality of information available to FCA, nor will the FCA monitor and control capabilities, “he said, adding that it did not bring it to transactions with the United States.

Jacobs-Dean also opposed the FCA proposal that it could spread the requirements of the report for the so-called MIFID II rules, applying them to AIFMD and ucits.

In response to Sir Keir Starmer’s call for advancement proposals, last month in the letter to the Prime Minister said that “the proportion of the requirements of the report will” revise. “

The regulator, which plans to publish suggestions to change the rules of the recent reports this year, said financial times.