The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, recently announced that it fined UnaVista Limited, a UK-based trade repository, €238,500 ($280,000) for eight breaches of the European Market Infrastructure Regulation (EMIR).  The EMIR includes rules regulating the conduct of trade repositories, and in conjunction with its role as the supervisor of trade repositories under EMIR, ESMA is empowered to file enforcement actions in response to infringements of EMIR by trade repositories.

Continue Reading European Securities Watchdog Fine Highlights Importance of Data Integrity and Regulatory Access

The New York Department of Financial Service recently clarified security incident notification requirements and the use of multi-factor authentication. On its FAQ page, the NYDFS added two new questions and answers for financial services companies subject to 23 NYCRR Part 500.

Continue Reading NYDFS FAQ Provides Clarity on Breach Notification and Security Requirements