"Journal of Payments Strategy and Systems provides a host of useful, actionable and informative articles and papers that demonstrate the extraordinary opportunities for improving the payments systems. These are written by subject matter experts: corporate practitioners; consultants; bankers; vendors and scholars. The variety of the topics and the points of view make this a must read, even for those who think they know all there is to know about payments."
A new European approach to transaction reporting
Abstract: The Markets in Financial Services Regulation and Directive (MiFID II) is part of the wider European Financial Services Action Plan. The main aim of
creating a single market for financial services is to establish a stable, competitive and transparent financial services framework across the European Union.The primary purpose for transaction reports is to detect and investigate suspected market abuse, insider trading and market manipulation. Review of a transaction report is a key part of any investigation into alleged market abuse reported to any financialauthority. Transaction Reporting is used by regulators to monitor and survey the market for any instances of market abuse. Failure to submit accurate transaction reports has the potential to hinder the Authority’s ability to detect and investigate suspected market abuse. The new transaction reporting regime will be standardised across Europe under the Markets in Financial Services Regulation.
Keywords: transaction reporting, market abuse, markets in financial services directive/regulation, assurance, insider dealing/market abuse
