{"id":111289,"date":"2025-03-26T10:19:56","date_gmt":"2025-03-26T14:19:56","guid":{"rendered":"https:\/\/www.bloomberg.com\/professional\/insights\/regulation\/march-global-regulatory-brief-trading-and-markets\/"},"modified":"2025-03-26T10:45:34","modified_gmt":"2025-03-26T14:45:34","slug":"march-global-regulatory-brief-trading-and-markets","status":"publish","type":[3762],"link":"https:\/\/www.bloomberg.com\/professional\/insights\/regulation\/march-global-regulatory-brief-trading-and-markets\/","title":{"rendered":"March Global Regulatory Brief: Trading and markets"},"content":{"rendered":"<div  class=\"bbg-row-container\">\n    <style>section[data-anchor=row-6a0c4db570954]::before {\n\t\t\t\tbackground-color: #eeeeee;\n\t\t\t}<\/style>\n    <section class=\"bbg-row bg--custom-color  bg--eeeeee text--black bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db570954'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8 bbg-column--valign-bottom\"\n    style=\"\"\n    >\n    <p>    <ul class=\"bbg-categories_list\">\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/markets\/\" rel=\"category tag\">\n                    Markets\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/regulation\/\" rel=\"category tag\">\n                    Regulation\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/risk\/\" rel=\"category tag\">\n                    Risk\n                <\/a>\n            <\/li>\n            <\/ul>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 24px !important\"\n    >\n<\/div>    <h1 class=\"bbg-metadata bbg-metadata--title\">March Global Regulatory Brief: Trading and markets<\/h1>\n<\/p>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db578964'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer\"\n        style=\"height: 40px !important\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg byline\"\n\t\t>\n\t<p><strong>Bloomberg Professional Services<\/strong><\/p>\n\n<\/div>\n    <p class=\"bbg-metadata bbg-metadata--date\">March 26, 2025<\/p>\n<\/p>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db57ac52'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><em>The Global Regulatory Brief provides monthly insights on the latest risk and regulatory developments. This brief was written by Bloomberg&#8217;s Regulatory Affairs Specialists.<\/em><\/p>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db57c7a3'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>Trading and markets regulatory developments<\/h2>\n<p><span style=\"font-weight: 400;\">Regulatory authorities continue to advance initiatives to improve the efficiency and sophistication of global market structure. The following market structure policy developments represent a sample of wider regulatory and policy coverage available to Bloomberg Terminal customers. Run REGS &lt;GO&gt; to find out more or contact your Bloomberg representative to learn more:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>UK: <\/b><span style=\"font-weight: 400;\">Government moves ahead on accelerated settlement to T+1<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>India: <\/b><span style=\"font-weight: 400;\">SEBI consults on equity derivatives<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>USA: <\/b><span style=\"font-weight: 400;\">SEC extends compliance dates for Treasury central clearing<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>EU: <\/b>Commission consults on commodity derivatives markets<\/li>\n<\/ul>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db586f3f'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\tbackground:rgba(0,0,0,0);\n\t\t\tpadding: 104px;\n\t\t\t\n\t\t\t\n\t\t}\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content, .bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content p{\n\t\t\tcolor:inherit;\n\t\t}\n\t\t@media (max-width: 768px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 32px;\n\t\t\t}\n\t\t}\n\t\t@media (max-width: 480px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 18px;\n\t\t\t}\n\t\t}\n\t<\/style>\n\t<div class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_1\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Explore the latest regulatory insights with our outlooks, webinars, research and analysis.<\/h3>\n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p>Sign up<\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_5213302611791025314\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/insights\/regulation\/regulatory-insights\/\"\n        target=\"_blank\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db58be78'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>UK Government moves ahead on Accelerated Settlement<\/h2>\n<p><span style=\"font-weight: 400;\">The UK Government has responded to a report from the Accelerated Settlement Technical Group and confirms its intention to bring forward secondary legislation to change the current T+2 requirement under the UK Central Securities Depositories Regulation (CSDR) to a T+1 requirement.<\/span><\/p>\n<p><b>What does T+1 mean?<\/b><span style=\"font-weight: 400;\"> A T+1 standard would mean that in a typical securities trade, such as buying and selling shares, the buyer would receive the securities they have purchased, and the seller would receive payment, the day after the trade is agreed. This is faster than the current two-day standard and could bring benefits such as cost savings for investors, alignment with international markets, and driving increased efficiency in \u2018back office\u2019 processes.<\/span><\/p>\n<p><b>In more detail: <\/b><span style=\"font-weight: 400;\">The report recommends 12 \u2018critical\u2019 and 26 \u2018highly recommended\u2019 actions to facilitate a successful transition to T+1. Many of these recommendations are for market participants and will be implemented through a new \u2018T+1 code of conduct\u2019.<\/span><\/p>\n<p><b>Timing: <\/b><span style=\"font-weight: 400;\">The Government accepts the recommendation that T+1 should come into effect in the UK on Monday 11 October 2027 in line with other European jurisdictions. On this basis, firms should now begin preparations for 11 October 2027 to be the first day of trading under a T+1 standard.<\/span><\/p>\n<p><b>Looking ahead:<\/b><span style=\"font-weight: 400;\"> The government will introduce the relevant legislation when Parliamentary time allows.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Accelerated Settlement Taskforce will oversee implementation of the recommendations until the transition to T+1 has been delivered and for a short period afterwards to assess the short-term impacts.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Andrew Douglas will continue to chair this next stage of the Taskforce and relevant industry chairs from the EU and Switzerland will be invited to attend meetings as observers.<\/span><\/li>\n<\/ul>\n<h2>SEBI consults on enhancing trading convenience and strengthening risk monitoring in equity derivatives<\/h2>\n<p><span style=\"font-weight: 400;\">The Securities and Exchange Board of India (SEBI) has <\/span><a href=\"https:\/\/www.sebi.gov.in\/web\/?file=https:\/\/www.sebi.gov.in\/sebi_data\/attachdocs\/feb-2025\/1740415659424.pdf#page=1&amp;zoom=page-width,-16,792\"><span style=\"font-weight: 400;\">released<\/span><\/a><span style=\"font-weight: 400;\"> a consultation paper proposing measures to refine open interest (OI) calculations, revise position limits, and align derivatives trading mechanisms with the cash market. The changes aim to improve market efficiency, enhance risk monitoring, and reduce systemic vulnerabilities.<\/span><\/p>\n<p><b>In more detail: <\/b><span style=\"font-weight: 400;\">The changes proposed in the paper include:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Transition to delta-based OI calculation:<\/b><span style=\"font-weight: 400;\"> Moving from a notional OI approach to a future equivalent (FutEq) methodology to address the limitations of the former approach, particularly its lack of meaningful aggregation across futures and options and potential for manipulation. The future equivalent approach reflects actual market exposure by incorporating delta-adjusted values for options.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Revised market-wide position limits (MWPL):<\/b><span style=\"font-weight: 400;\"> Revising existing MWPL methodology in line with the proposed transition to a Delta-based OI calculation approach, as FutEq OI is generally lower than notional OI. The limit will be set at the lower of 15% of free-float market capitalization or 60 times the average daily delivery value in the cash market compared to existing MWPL of 20% for each single stock.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Position creation during ban period: <\/b><span style=\"font-weight: 400;\">Permitting traders to initiate new positions post a scrips exceeds the MWPL and enters ban period, only if they reduce their starting FutEq OI for the day. This measure aims to manage both individual and systemic risk.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Pre-open and post-closing sessions for derivatives trading:<\/b><span style=\"font-weight: 400;\"> Extending pre-open and post-closing sessions to futures on both single stocks and indices, mirroring the modalities of the cash market. This is intended to improve price discovery and reducing volatility.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Eligibility criteria for non-benchmark index derivatives: <\/b><span style=\"font-weight: 400;\">Introducing eligibility criteria for sectoral and thematic indices to qualify for derivatives trading, aligning them with benchmark indices which are generally broad-based. The criteria would include a minimum of 14 constituents, limits on concentration, etc., to reduce price manipulation risks.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Revised Entity-Level Position Limits for Single Stocks:<\/b><span style=\"font-weight: 400;\"> Adjusting existing limits in accordance with a transition to a Delta-based OI calculation approach to ensure that large positions do not create market concentration risks. The revised limits will be based on MWPL or a percentage of total FutEq OI across exchanges, whichever is lower.\u00a0<\/span><\/li>\n<\/ul>\n<p><b>Next steps:<\/b><span style=\"font-weight: 400;\"> SEBI has invited public comments on the consultation paper, with stakeholders encouraged to submit their feedback by March 17, 2025.<\/span><\/p>\n<h2>US SEC extends compliance dates for Treasury central clearing<\/h2>\n<p><span style=\"font-weight: 400;\">The US Seucurities and Exchange Commission (SEC) <\/span><a href=\"https:\/\/www.sec.gov\/newsroom\/press-releases\/2025-43\"><span style=\"font-weight: 400;\">announced<\/span><\/a><span style=\"font-weight: 400;\"> a one-year extension of the compliance deadline for central clearing of eligible Treasury secondary market transactions. In addition to the delay, the SEC also issued exemptive relief related to the margin segregation rule.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This decision was widely anticipated after major industry groups submitted a <\/span><a href=\"https:\/\/www.sifma.org\/wp-content\/uploads\/2025\/01\/SIFMA-Extension-Request-US-Treasury-Clearing-Mandate-FINAL-Clean.pdf\"><span style=\"font-weight: 400;\">joint letter<\/span><\/a><span style=\"font-weight: 400;\"> in late January advocating for a delay. In the letter, the groups highlighted key outstanding issues and cautioned that, without a delay, there could be disruptions to the Treasury cash and repo markets.\u00a0<\/span><\/p>\n<p><b>Timing:<\/b><span style=\"font-weight: 400;\"> The SEC extended the compliance dates by one year, from December 31, 2025, to December 31, 2026, for eligible cash market transactions, and from June 30, 2026, to June 30, 2027, for eligible repo transactions.<\/span><\/p>\n<p><b>Exemptive Order:<\/b><span style=\"font-weight: 400;\"> Along with the deadline extension, the SEC issued an Order Granting Temporary Exemptive Relief to the margin separation requirement. The SEC is providing this temporary relief until September 30,2025 (six-month extension) to ensure that direct participants who are currently clearing for indirect participants are ready to make the legal, operational, and risk management changes to meet that requirement.\u00a0<\/span><\/p>\n<p><b>In more detail: <\/b><span style=\"font-weight: 400;\">The extension will give the SEC additional time to assess new clearing applications and proposed rule changes, as well as provide the market with the necessary time to amend contractual agreements. Additionally, the delay also supports further development of done-away clearing, standard documentation, onboarding processes, and system upgrades. Overall, the additional time should facilitate orderly implementation that will help avoid potential disruptions in cash and repo markets.\u00a0<\/span><\/p>\n<p><b>Looking ahead: <\/b><span style=\"font-weight: 400;\">While the one-year extension addresses the central point of the joint letter from industry groups, several significant issues are still unresolved. These include mixed CUSIP triparty transactions, the use of the inter-affiliate exemption, the extraterritorial scope, new clearing entrants and cross-margining, documentation, and impact of bank capital requirements.<\/span><\/p>\n<h2>EU consults on commodity derivatives markets<\/h2>\n<p><span style=\"font-weight: 400;\">The European Commission <\/span><a href=\"https:\/\/finance.ec.europa.eu\/regulation-and-supervision\/consultations-0\/targeted-consultation-review-functioning-commodity-derivatives-markets-and-certain-aspects-relating_en\"><span style=\"font-weight: 400;\">launched<\/span><\/a><span style=\"font-weight: 400;\"> a consultation on the future of commodity derivatives markets in the EU, seeking views on a wide array of issues ranging from the regulatory perimeter and circuit breakers to transparency, position limits, derivatives CTP, and price caps.\u00a0<\/span><\/p>\n<p><b>Context: <\/b><span style=\"font-weight: 400;\">MiFID3 mandates the Commission to assess commodity derivatives markets, including EUAs or derivatives on EUAs. That was motivated by the recent energy crisis and the extreme volatility in energy markets.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The report by Mario Draghi on The future of European competitiveness includes a significant number of recommendations linked to the functioning of energy spot and derivatives markets to lower energy prices.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The outcome of this consultation will therefore inform two main deliverables<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">MiFID3 report on commodity derivatives markets<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Commission broader potential reforms of the wholesale energy and related financial markets, including amendments to MiFIR\/D and REMIT<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The consultation was published together with the Affordable Energy Action Plan, which sets out the Commission\u2019s overarching strategy to tackle high energy costs.\u00a0<\/span><\/li>\n<\/ul>\n<p><b>In summary:<\/b><span style=\"font-weight: 400;\"> The consultation covers mainly 5 areas:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Data aspects related to commodity derivatives \u2013 including further harmonisation and a centralised data collection mechanism for MiFIR\/MiFID\/EMIR\/REMIT reporting, amendments to price transparency for commodity derivatives under MiFIR\/D, and the inclusion of exchange-traded commodity derivatives in the Consolidated Tape.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Ancillary activity exemption \u2013 including the scope of the exemption, the de minimis test threshold, and the potential implications of the expansion of the MiFID regulatory perimeter on the IFR\/D framework.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Position management and position reporting \u2013 options include extending position reporting requirements beyond MiFID investment firms, and enhanced access to information on positions across financial and wholesale market supervisors.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The appropriateness of the existing MiFID position limits regime \u2013 including exploring the Draghi idea to set different position limits according to the type of trader, the suitability of the hedging exemption from the position limits regime, and considering a greater role for trading venues in setting position limits. The consultation also explores whether a similar position limits regime should be applied in the context of REMIT.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Circuit breakers \u2013 including assessing the effectiveness of the IVMs adopted in response to the 2022 energy crisis, a requirement for trading venues to implement a permanent static circuit breakers, the application of circuit breakers to spot energy products\/non-MiFID financial instruments, and the potential impacts of such measures in driving trading towards OTC markets.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Draghi report suggestions \u2013 questions on an EU trading obligation for commodity derivatives, the effectiveness of price caps, and the application of certain MiFID organisational requirements for market participants and trading venues to the spot market.<\/span><\/li>\n<\/ul>\n<p><b>Looking ahead: <\/b><span style=\"font-weight: 400;\">The deadline for responses is 9 April 2025.\u00a0<\/span><\/p>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db58e8c6'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>View the additional regulatory briefs from this month:<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/regulation\/march-global-regulatory-brief-risk-capital-and-financial-stability\/\">Risk, capital and financial stability<\/a><\/li>\n<li><a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/regulation\/march-global-regulatory-brief-green-finance\/\">Green finance<\/a><\/li>\n<li><a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/regulation\/march-global-regulatory-brief-digital-finance\/\">Digital finance<\/a><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.bloomberg.com\/professional\/global-regulatory-brief\/\">Sign up<\/a> to receive these updates in your inbox first.<\/p>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db590413'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>How we can help<\/h2>\n<p>Bloomberg\u2019s Public Policy and Regulatory team brings you insight and analysis on policy developments to help navigate the complex and fast changing global regulatory landscape. To discuss regulatory solutions, <a href=\"https:\/\/www.bloomberg.com\/professional\/regulatory-insights\/#contactus\">please get in touch with our specialists<\/a> or <a href=\"https:\/\/www.bloomberg.com\/professional\/regulatory-insights\/\">read more insights<\/a> from our Regulatory team.<\/p>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <style>section[data-anchor=row-6a0c4db591dfe]::before {\n\t\t\t\tbackground-color: #eeeeee;\n\t\t\t}<\/style>\n    <section class=\"bbg-row bg--custom-color  bg--eeeeee text--black bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db591dfe'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>Recommended for 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