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Second interim report from the Securities Law Committee; Norway - regulation of algorithmic trading. Go TrumpSecond interim report from the Securities Law Committee; Norway Published under: Government Solberg Publisher: Ministry of Finance About MIFID II and MIFIR news | Date: 20/01/2017 Securities Law Committee has today submitted its second interim report to the Ministry of Finance. The report contains proposed amendments to the Securities Trading Act, that will contribute to more transparent and well-functioning markets and increased investor protection. The bill aims to implement forthcoming EEA rules corresponding to the new EU Directive 2014/65 / EC on markets in financial instruments (MiFID II) and Regulation 600/2014 (MiFIR). The Commission proposes to gather the regulation of investment firms, regulated market and stock exchange Securities Trading Act and to repeal the law on regulated markets (Stock Exchange Act). The main purpose of the regulation is to contribute to more transparent and well-functioning markets and increased investor protection. The proposals are discussed in the press release [link] from the selection, and include: Amended rules on reporting and publication of trades in financial instruments establishment of a new type of trading (organized trading facility), regulation of algorithmic trading, introduction of trade duty for clearing obligation derivatives and financial instruments listed on trading stricter disclosure requirements for investment firms and rules on product handling and consideration of other than the customer rules on the establishment of position limits for commodity derivatives strengthening Finance's supervisory and sanction instruments The report will be circulated for general consultation. Securities Law Committee was appointed 22 May 2015 and submitted the first interim report on the implementation of changes to the Transparency Directive (disclosure and periodic reporting) to the Ministry of Finance in February 2016. The committee will also investigate implementation of anticipated EEA rules corresponding to market abuse regulation, comprehensive review of sanctions policies in the Securities Trading Act, proposed revised offer rules and certain other conditions. + + + As two above, even better yet. U.S. banks and bond holders can not any more fiddle with dual registered shares; Oslo U.S. A review of some 1,300 accounts from 2006 to 2015 shows that foreign banks have become dominant in the Norwegian Stock Exchange. John Idsø, who is associate professor of economics at University College in western Norway, has gone through the accounts. He has measured banks' market share by then, and, on how much of the total turnover in Norwegian and foreign banks accounted for. In 2006, the market share was 3 percent for foreign banks, while in 2015 had risen to 76 percent. The accounts also show that three quarters of profits in the banking industry goes to foreign banks. Their share of the profit has increased from 2 percent in 2006 to 74 percent in 2015. In the same period, the total profits of banks increased from 13.7 billion to 120 billion. According to Idsø commercial banks that having been hardest hit competition wise; he believes the savings banks are next to come. (© NTB) |
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