Mark Husler, managing director and CEO of UnaVista, has stepped down from his role to become managing director of property development company, NovaVita.
Husler founded UnaVista, the regulatory reporting platform, owned by London Stock Exchange Group (LSEG), in 2008.
Prior to setting up UnaVista, Husler had been head of business development at the exchange since 1998.
Earlier this month, the European Securities and Markets Authority (ESMA) fined UnaVista for eight violations of the European Market Infrastructure Regulation (EMIR).
The fines, totalling €238,500, are linked to the failure of the UK-based trade repository to ensure data integrity and to provide direct and immediate access for financial supervisors to this trade data.
The eight breaches of EMIR requirements took place between 2016 and 2018 and were found by ESMA to be the result of negligence on the part of UnaVista.
In July, UnaVista announced that it would be closing its SFTR trade repository service.
The Securities Financing Transactions Regulation (SFTR) trade repository, which is currently operated by UnaVista Ltd in the UK and UnaVista TRADEcho B.V. in the European Union, will cease to offer regulatory reporting, and associated services from its rules engine, on 31 January 2022.
This move will enable UnaVista to reallocate resources towards its core Markets in Financial Instruments Regulation (MIFIR), EMIR and G20 services, the company said, including preparatory work for the EMIR Refit.
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