Addressing the UK’s impending exit from the EU

With the 29 March deadline fast approaching, here’s an update of Brexit activities the Policy & Technical team have been involved in. The Q&As undertaken with the CBI and with support from the FCA and other key organisations (such as ICMA) have been updated to reflect the latest position on key issues such as contract continuity, SEPA access and the rules for financial institutions that do not apply to join the UK’s Temporary Permissions Regime. Our ongoing Brexit readiness poll remains open and we request members to continue to update it with their latest position. Over the last few weeks

Latest developments in EMIR Reporting – light at the end of the tunnel for corporates

Following the early February political sign-off by Parliament and Council negotiators in trialogue of the EMIR Refit agreement that was struck before Christmas between the Council and rapporteur Langen, we wanted to share with you the latest technical drafting that has emerged. In particular on the core issues for corporates: Reporting of intragroup transactions – there will be a full exemption from the reporting obligation for intragroup transactions (on a global scale), as long as one of the two entities is an NFC and so long as the parent undertaking is an NFC. Reporting of external transactions – there will

Summing up, looking ahead – ACT Europe Conference 2016

A huge thank you to all the guests, speakers and exhibitors who joined the ACT team in Düsseldorf for the third annual Europe Conference! Bringing together over 200 treasury and finance professionals from 127 companies and 15 countries, the event was extremely well received. Only a half of this year’s participants had attended an ACT event before, but 96% would attend the Europe Conference again and 94% would recommend it to a colleague. Moreover, 90% of the attendees rated the conference as good to excellent. Providing over 7.5 hours’ worth of strategic-level, interactive content and 3.5 hours of networking with

ACT Europe 2016 – making it worthwhile

Without question the best event the ACT has held on the Continent, bar none. Why do I say that? Simple, really: a terrific line up of highly experienced and committed speakers, a series of topics that got to the core of treasury concerns, some serious networking and for the ACT team (apologies to vegetarians and  pescatarians), ridiculous meat consumption at a classic Dusseldorf Brauhaus! To open the day up, Rather cheekily we asked our continental audience which way they would vote, if they could, in the Brexit referendum. Overwhelmingly the vote would be IN; even more cheekily we asked them if

Dispatches from the European front

Strategic, collaborative This was my first ACT Europe Conference, and strategic and collaborative are the adjectives that best describe the experience for me. A fantastic speaker faculty and a generous attendance made the event content-rich, interactive and stimulating. Temperature check We kicked-off by deploying our event app to check the temperature on current market conditions, business prospects and some hot-button political issues. Paired with tepid business confidence, the room overwhelmingly supported a stay-in vote in the June UK referendum. Even further, more than two thirds of the audience stated that they would not like their home country to hold a

A busy summer for treasurers

It may be the holiday season but the ACT team has been very active again this month. There seems to be no end to the issues that we need to comment upon or influence including bank regulation and the radical changes proposed to OTC trading.

It seems that the regulators still (in my view) expect to struggle to regulate the largest banks effectively and are therefore focussing on other areas to compensate. We have to strive to avoid collateral damage to banks’ non-financial corporate customers as well as look for positive changes.