On October 19, the European Securities and Markets Authority (ESMA) published a consultation paper on draft regulatory technical standards (RTS) concerning central counterparties (CCPs) under Regulation (EU) 2019/2099 (EMIR 2.2) (the Consultation Paper).
Continue Reading ESMA Publishes Consultation Paper on Draft RTS Relating to CCPs

On October 1, the United Kingdom’s (UK) Financial Conduct Authority (FCA) published a statement on trade reporting and position limit obligations under the Markets in Financial Instruments Regulation (MiFIR) (the Statement).
Continue Reading FCA Publishes Statement on MiFIR Trade Reporting and Position Limit Obligations

On October 5, the European Commission (the Commission) published the text of an Implementing Regulation, laying down Implementing Technical Standards (ITS) with regard to procedures and forms for an exchange of information and cooperation under Articles 24 and 25 of the Market Abuse Regulation (MAR) (the Implementing Regulation).
Continue Reading European Commission Adopts New Standards for Cooperation Under MAR

On September 28, the European Securities and Markets Authority (ESMA) published its final report (Final Report), accompanied by draft regulatory and implementing technical standards (RTS and ITS) on the provision of investment services and activities in the European Union (EU) by third-country firms under the Markets in Financial Instruments Directive (MiFID II) (600/2014) and the associated Markets in Financial Instruments Regulation (MiFIR).
Continue Reading MiFID II: ESMA Publishes Final Report on Third-Country Firm Regime

On October 1, The European Securities and Markets Authority (ESMA) issued a statement relative to its approach to the application of the Markets in Financial Instruments Directive (MiFID) and Markets in Financial Instruments Regulation (MiFIR) following the end of the Transition Period on December 31 provided for in the Agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union (EU) and the European Atomic Energy Community (Withdrawal Agreement).
Continue Reading MiFID II: FCA Publishes Regulatory Forbearance on the 10 Percent Depreciation Rule

On September 24, the European Securities and Markets Authority (ESMA) published a consultation paper examining transaction reporting and reference data obligations under the Market in Financial Instruments Regulation (MiFIR) (the Consultation Paper).
Continue Reading ESMA Publishes Consultation Paper on MiFIR Reference Data and Transaction Reporting

On September 21, the European Commission (Commission) adopted a time-limited decision to provide financial market participants 18 months within which they should reduce their exposure to UK central counterparties (CCPs) (the Decision).
Continue Reading EU Commission Adopts Time-Limited Decision for Continued Access to UK Central Counterparties

On September 17, the European Securities and Markets Authority (ESMA) renewed its decision (ESMA70-155-11072) to temporarily require holders of net short positions in shares traded on a European Union- (EU) regulated market to report to the relevant EU financial regulator at a reduced threshold of 0.1 percent net short (instead of the pre-existing threshold of 0.2 percent net short).
Continue Reading ESMA Renews 0.1 percent Reporting Requirement of Net Short Positions in EU Issuers

On August 19, the European Securities and Markets Authority (ESMA) published a letter it sent to the European Commission on its proposed areas of recommendation for the upcoming review of the Alternative Investment Fund Managers Directive (AIFMD).

Since AIFMD’s implementation in 2011 and as a result of the COVID-19 pandemic, ESMA and EU financial regulators have identified areas of improvement to AIFMD. The review provides an opportunity for their recommendations to be enacted.
Continue Reading ESMA Publishes Letter to the European Commission on the AIFMD Review

On July 31, the European Securities and Markets Authority (ESMA) published data for the systematic internaliser (SI) quarterly calculations for equity, equity-like instruments, bonds and, for the first time, other non-equity instruments under the revised Markets in Financial Instruments Directive (MiFID II) and Markets in Financial Instruments Regulation.
Continue Reading ESMA Publishes Data for Systematic Internaliser Calculations for Equity, Equity-Like Instruments, Bonds and Other Non-Equity Instruments