On March 24, the Financial Conduct Authority (FCA) published a statement announcing that it has not observed market or regulatory developments that warrant a change in its use of the Temporary Transitional Power (TTP) applying to the United Kingdom’s derivatives trading obligation (DTO).
Continue Reading FCA Confirms No Current Revisions to Temporary Transitional Power Applying to UK’s Derivatives Trading Obligation

On March 19, the European Securities and Markets Authority (ESMA) published a statement announcing a new Directive relating to its supervisory approach to position limits for commodity derivatives under the Markets in Financial Instruments Directive (MiFID II) (the Statement).
Continue Reading ESMA Publishes Statement Announcing Supervisory Approach to MiFID II Position Limits for Commodity Derivatives

On March 10, the European Parliament adopted a legislative initiative report detailing recommendations for a new directive on corporate due diligence and corporate accountability for holding companies accountable for harm caused to human rights, the environment and good governance (the Report).
Continue Reading European Parliament Adopts Report Recommending Directive on ESG Due Diligence Obligations

On March 15, the European Securities and Markets Authority (ESMA) announced its decision not to renew the requirement for holders of net short positions in shares traded on an EU regulated market to inform the relevant national competent authority (NCA) if the position reaches, exceeds or falls below 0.1 percent of the issued share capital (the Press Release).
Continue Reading ESMA Allows Decision on Reporting Net Short Positions to Expire

On March 17, the European Supervisory Authorities (ESAs) published a joint consultation paper on draft regulatory technical standards (RTS) regarding the content and presentation of sustainability disclosures under Articles 8(4), 9(6) and 11(5) of the Sustainable Finance Disclosure Regulation ((EU) 2019/2088) (SFDR).
Continue Reading ESG: ESAs Consult on Draft RTS on Content and Presentation of Taxonomy-Related Sustainability Disclosures Under SFDR

On March 8, the Financial Conduct Authority (FCA) published a consultation paper detailing its proposals to regulate bidding for emissions allowances on the UK auction platform under the UK Emissions Trading Scheme (ETS) (the Consultation Paper).
Continue Reading FCA Publishes Consultation Paper on Regulating Bidding for Emission Allowances Under UK ETS

On March 9, the Financial Conduct Authority (FCA) announced its first, post-Brexit annual transparency calculations for UK equity and equity-like financial instruments in response to the UK Markets in Financial Instruments Regulation (the Press Release). The calculations will be available from April 1.
Continue Reading FCA Announces Annual Transparency Calculations for Equity and Equity-Like Instruments

On March 9, the European Parliament’s Economic and Monetary Affairs Committee (ECON) published a draft report detailing recommendations to the European Commission on the proposed Regulation on markets in cryptoassets and amending Directive (EU) 2019/1937 (the Draft Report).
Continue Reading ECON Publishes Draft Report on Proposed Regulation on Markets in Cryptoassets

On March 10, the European Commission (the Commission) published a draft delegated act detailing the obligation on clearing members and clients when providing clearing services under fair, reasonable, non-discriminatory and transparent (FRANDT) commercial terms (the Delegated Act).
Continue Reading European Commission Publishes Draft Delegated Act on FRANDT

On February 22, the European Securities and Markets Authority (ESMA) published its final report on guidelines to clarify common procedures and methodologies for the supervisory review and evaluation process of central counterparties (CCPs) by their national competent authorities (NCAs) (the Report).

The proposed guidelines addressed in the Report by ESMA include:
Continue Reading ESMA Publishes Guidelines on Supervisory Review and Evaluation Process of CCPs