The European Central Bank’s (ECB) Target2-Securities (T2S) project has proved to be a controversial topic for some time and news this month that the launch of the new pan-European settlement system may be delayed by up to a year is unlikely to change matters. The ECB has confirmed that it has completed the approval process for the project’s general specifications, but the central bank has indicated it will be updating its programme plan at the end of February, which is rumoured to include a postponed launch date.
Last year saw the transformation and empowerment of the Financial Services Board (FSB) to lead and monitor regulatory coordination across Europe. This year, the regulatory body has a significant list of tasks ahead of it to effectively put this function into practice, including coordinating the implementation of improvements to accounting standards and raising capital and liquidity requirements.
This year will see a wide scale review of MiFID, as promised by ex-internal market and services commissioner Charlie McCreevy last September (see our coverage 
The Committee of European Banking Supervisors (CEBS), much like the rest of the regulatory community, has experienced an exceptionally busy year, involving drawing up plans to respond to the weaknesses in oversight highlighted by the financial crisis. Risk management and mitigation has proved to be a common theme throughout the year and it seems that next year will be more of the same, if its recent draft deliverables document is anything to go by.
A-Team Insight Events combine A-Team's expertise in financial markets IT with thought leadership from world-class technology innovators and practical experience from financial market practitioners. In 2011, a quality constituency will once again gather for these focused events in London and New York City.
As noted by A-Team Insight earlier this year (see here), the launch of the European Central Bank’s (ECB) Target2-Securities (T2S) project has been delayed by at least a year due to a “longer than expected” development phase. Hugh Simpson, senior advisor to the T2S programme from Bourse Consult, told delegates to last week’s Xtrakter user conference that new launch date will be September 2014, rather than the previously stated mid-2013. The industry consultation period may have been long enough to delay the launch, but have industry participants really considered the wide ranging impact of T2S and its related directive, including on the corporate actions process?
Loading ...
