Corporate & Financial Weekly Digest

Corporate & Financial Weekly Digest

Category Archives: EU Developments

Subscribe to EU Developments RSS Feed

ESMA Updates Q&A Relating to Commodity Derivatives

Posted in EU Developments, Financial Markets
On October 2, the European Securities and Markets Authority (ESMA) published an updated version of its question and answer document (Q&A) on commodity derivatives topics under the revised Markets in Financial Instruments Directive (MiFID II) and the related Markets in Financial Instruments Regulation (MiFIR). The update includes two new answers. The first relates to position… Continue Reading

ESMA Publishes Opinion on Position Limits on UK Natural Gas Contracts Proposed by the FCA

Posted in EU Developments, Financial Markets
On October 5, the European Securities and Markets Authority (ESMA) published an opinion, dated September 24, on position limits on UK natural gas commodity futures and options contracts proposed by the UK Financial Conduct Authority (FCA). ESMA received a notification from the FCA on February 7, under Article 57 of the revised Markets in Financial… Continue Reading

ESMA Updates Q&As Relating to the Market Abuse Regulation

Posted in EU Developments, Financial Markets
On October 1, the European Securities and Markets Authority (ESMA) published an updated version of its sets of question and answer documents (Q&As) on the Market Abuse Regulation (MAR). ESMA has added three new questions and answers relating to the delay of the disclosure of inside information by a credit or financial institution to preserve… Continue Reading

ESMA Publishes Letter on MiFID II and MiFIR Third-Country Regimes

Posted in EU Developments, Financial Markets
On October 1, the European Securities and Markets Authority (ESMA) published a letter (dated September 26) from ESMA chair Steven Maijoor to European Commission vice president Valdis Dombrovskis on issues relating to third-country firms concerning certain requirements under the revised Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR).… Continue Reading

ESMA Updates Q&As Relating to EMIR and MiFIR

Posted in Derivatives, EU Developments, Financial Markets
On September 26, the European Securities and Markets Authority (ESMA) published updates to two of its sets of question and answer documents (Q&As): (1) Q&As relating to the implementation of the European Market Infrastructure Regulation (EMIR); and (2) those relating to data reporting under the Markets in Financial Instruments Regulation (MiFIR).… Continue Reading

ECON Votes to Adopt Draft Reports on Revised EU Prudential Framework for Investment Firms

Posted in EU Developments, Financial Markets
On September 24, the European Parliament published a press release announcing that its Committee on Economic and Monetary Affairs (ECON) voted to adopt its draft reports on the European Commission’s proposals for a regulation on the prudential supervision of investment firms (Investment Firms Regulation (IFR)), and a directive on the prudential supervision of investment firms… Continue Reading

ESMA Announces Details of Two New Data Completeness Indicators for Trading Venues

Posted in EU Developments, Financial Markets
On September 27, the European Securities and Markets Authority (ESMA) published a press release announcing two new data completeness indicators for trading venues relating to the delivery of double volume cap (DVC) and bond liquidity data. DVC and bond liquidity data are required form trading venues for transparency purposes pursuant to the revised Markets in… Continue Reading

ECON Publishes Draft Reports on Legislative Proposals for Cross-Border Distribution of Collective Investment Funds

Posted in EU Developments, Financial Markets
On September 21, the European Parliament’s Economic and Monetary Affairs Committee (ECON) published the following draft reports, both dated September 18: a draft report on the proposal for a directive on the cross-border distribution of collective investment funds; and a draft report on the proposal for a regulation on facilitating cross-border distribution of collective investment… Continue Reading

ESMA Releases Latest Double Volume Cap Data Under MiFID II

Posted in EU Developments, Financial Markets
On September 7, the European Securities and Markets Authority (ESMA) updated its public register with the latest set of double volume cap (DVC) data under the revised Markets in Financial Instruments Directive (MiFID II). The DVC public register was last updated in July (for further details, see the July 13 edition of Corporate & Financial… Continue Reading

European Commission Publishes Communication on Proposed ESMA Amendments to MiFIR RTS

Posted in EU Developments, Financial Markets
On September 3, the European Commission (EC) published a communication, dated August 10, in response to a proposal from the European Securities and Markets Authority (ESMA) regarding amendments to Delegated Regulation 2017/587, which sets out regulatory technical standards on transparency requirements for trading venues and investment firms regarding financial instruments (RTS 1), supplementing the Markets… Continue Reading

EBA Publishes Consultation Paper on Amendments to the CRR Supervisory Reporting ITS Relating to Securitizations

Posted in EU Developments, Financial Markets
On August 28, the European Banking Authority (EBA) published a consultation paper on amendments to the Commission Implementing Regulation (Implementing Regulation) containing implementing technical standards on supervisory reporting (ITS), relating to the new securitizations framework, which came into force in January.… Continue Reading

ECON Publishes Draft Report on Proposed Regulation on European Crowdfunding Service Providers

Posted in Digital Assets and Virtual Currencies, EU Developments, Financial Markets
On August 10, the European Parliament’s Economic and Monetary Affairs Committee (ECON) published its draft report on the European Commission’s March 2018 proposal for a regulation on European crowdfunding service providers (CSPs). The draft report contains a draft European Parliament legislative resolution, the text of which sets out suggested amendments to the European Commission’s proposal.… Continue Reading

ESMA Updates TTC Calculations for MiFID II/ MiFIR

Posted in Derivatives, EU Developments, Financial Markets
On August 6, the European Securities and Markets Authority (ESMA) published an updated version of the transitional transparency calculations (TTC) for the purposes of the revised Markets in Financial Instruments Directive (MiFID II) and the associated Markets in Financial Instruments Regulation (MiFIR). The TTC is a series of calculations in relation to equity and non-equity… Continue Reading

ESMA Publishes First Systematic Internalizer Calculations Data for Investment Firms Under MiFID II

Posted in EU Developments, Financial Markets
On August 1, the European Securities and Markets Authority (ESMA) published the first tranche of data for market participants to determine whether they are systematic internalizers (SIs) in equities, equity-like instruments and bonds under the revised Markets in Financial Instruments Directive (MiFID II).… Continue Reading

European Supervisory Authorities Release Guidance on PRIIPS KID

Posted in EU Developments, Financial Markets
On July 20, the Joint Committee of the European Supervisory Authorities (ESAs), which comprises the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority, updated its Q&As on the key information document (KID) required to be issued in connection with packaged retail and insurance-based investment products (PRIIPs)… Continue Reading

ESMA Updates UCITS and AIFMD Q&As

Posted in EU Developments, Financial Markets
On July 23, the European Securities and Markets Authority (ESMA) issued a press release announcing updates to two of its sets of Questions and Answers (Q&As): (1) Q&As relating to the Undertakings for the Collective Investment in Transferable Securities (UCITS) Directive; and (2) those relating to the Alternative Investment Fund Managers Directive (AIFMD).… Continue Reading

ESMA Releases Template to Determine Whether Investment Firms Are Systematic Internalizers

Posted in EU Developments, Financial Markets
On July 20, the European Securities and Markets Authority (ESMA) released a template (Template) to determine whether investment firms are systematic internalizers (SIs). Under the revised Markets in Financial Instruments Directive (MiFID II), an SI is an investment firm which, on an organized, frequent systematic and substantial basis, deals on its own account when executing… Continue Reading