Corporate & Financial Weekly Digest

Corporate & Financial Weekly Digest

Tag Archives: ESMA

ESMA Publishes Updated Q&As on MiFID II and MiFIR Commodity Derivatives Topics

Posted in Derivatives, EU Developments, Financial Markets
On January 4, the European Securities and Markets Authority (ESMA) published an updated version of its questions and answers document (Q&As) on commodity derivative topics under the revised Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR). This follows the last updated version of its Q&As, which ESMA published… Continue Reading

ESMA Publishes Updates Q&As on MiFID II and MiFIR Transparency Topics

Posted in EU Developments, Financial Markets
On January 4, the European Securities and Markets Authority (ESMA) published an updated version of its questions and answers document (Q&As) on transparency topics under the revised Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR). This follows the last updated version of its Q&As, which ESMA published on… Continue Reading

ESMA Provides Update on Assessment of Third-Country Trading Venues Under MiFID II and MiFIR

Posted in EU Developments, Financial Markets
On December 20, the European Securities and Markets Authority (ESMA) published a press release providing an update on its assessment of third-country trading venues (TCTVs) for the purposes of post-trade transparency and position limits under the revised Markets in Financial Instruments Directive (MiFID II) and Markets in Financial Instruments Regulation (MIFIR).… Continue Reading

FCA Publishes Consultation Paper on Product Intervention Measures for Retail Binary Options

Posted in Financial Markets, UK Developments
On December 7, the UK Financial Conduct Authority (FCA) published a consultation paper on product intervention measures for retail binary options. The FCA is proposing to prohibit the sale, marketing and distribution of binary options in or from the UK to retail consumers by creating new rules in its Conduct of Business sourcebook (COBS).… Continue Reading

European Commission Reported to Grant Temporary Access to UK Clearing Houses

Posted in Brexit, Brexit/UK Developments, Derivatives, Financial Markets
On December 12, it was reported that the European Commission (EC) intends to grant temporary and conditional equivalence status to UK central counterparties (CCPs) under the European Market Infrastructure Regulation (EMIR) in the event of the United Kingdom withdrawing from the European Union (Brexit) without concluding a withdrawal agreement (“no-deal Brexit”).… Continue Reading

ESMA Updates Q&As Relating to the Market Abuse Regulation

Posted in EU Developments, Financial Markets
On November 12, the European Securities and Markets Authority (ESMA) published version 13 of its questions and answers document (Q&As) on the Market Abuse Regulation (MAR). The Q&As now include a new question, 7.10, relating to the scope of the trading restrictions for persons discharging managerial responsibilities (PDMRs) during a closed period under MAR.… Continue Reading

ESMA Updates Q&As Relating to Transparency and Market Structures

Posted in EU Developments, Financial Markets
On November 14, the European Securities and Markets Authority (ESMA) published the following updated questions and answers document (Q&As): an updated version of the Q&As on transparency topics under the revised Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR). ESMA has added two points to Q&A 7 and… Continue Reading

ESMA Publishes Updated Supervisory Briefing on MiFID II Suitability Rules

Posted in EU Developments, Financial Markets
On November 13, the European Securities and Markets Authority (ESMA) published an updated version of its supervisory briefing on the suitability requirements of the revised Markets in Financial Instruments Directive (MiFID II). This briefing introduces European supervisors to MiFID II suitability rules, which require investment firms providing investment advice or portfolio management services to provide… Continue Reading

ESMA Proposes Regulatory Change To Support the Brexit Preparations of Counterparties to Uncleared OTC Derivatives

Posted in Brexit, EU Developments, Financial Markets
On November 8, the European Securities and Markets Authority (ESMA) published a final report proposing new draft regulatory technical standards (RTS) contained in a draft Delegated Regulation that would amend the three European Commission Delegated Regulations on the clearing obligation under the European Markets and Infrastructure Regulation (EMIR).… Continue Reading

ESMA Publishes Statement Clarifying Clearing and Trading Obligations Ahead of December Deadline

Posted in EU Developments, Financial Markets
On October 31, the European Securities and Markets Authority (ESMA) published a statement clarifying firms’ clearing and trading obligations in light of current derogations and phase-in periods ending on December 21, allowing for regulatory forbearance. ESMA explains that, under the European Market Infrastructure Regulation (EMIR), both the current derogation from the clearing obligation for certain… Continue Reading

ESMA Publishes Stakeholder Group Advice on Containing Risks of ICOs and Crypto Assets

Posted in Digital Assets and Virtual Currencies, EU Developments
On October 19, the European Securities and Markets Authority (ESMA) published an own-initiative report, produced by its Securities and Markets Stakeholder Group (SMSG), on initial coin offerings (ICOs) and crypto assets. The report gives advice to ESMA on steps it can take to contain the risks of ICOs and crypto assets, on top of existing… Continue Reading

FCA Updates Webpage on MiFID II Position Limits for Commodity Derivative Contracts

Posted in Derivatives, Financial Markets, UK Developments
On October 22, the UK Financial Conduct Authority (FCA) updated its webpage for bespoke position limits set for a number of commodity derivatives traded on UK trading venues, namely contracts traded on ICE Futures in the United Kingdom. Following ICE Futures’ recent update of its range of products, the FCA has made the following amendments… Continue Reading

HM Treasury Publishes Draft Brexit Statutory Instruments Relating to MiFID II and Trade Repositories

Posted in Brexit/UK Developments, Financial Markets
On October 5, HM Treasury published two draft statutory instruments (SIs) together with explanatory notes, which will make amendments to retained EU law relating to the revised Markets in Financial Instruments Directive (MiFID II) and Trade Repositories (TRs).… Continue Reading

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

HM Treasury Publishes Draft EMIR SI Relating to Non-UK CCPs Post-Brexit

Posted in Brexit, Financial Markets, UK Developments
HM Treasury published a draft statutory instrument (SI) under the European Market Infrastructure Regulation (EMIR) relating to non-UK central counterparties (CCPs) after the United Kingdom’s withdrawal from the European Union (exit day). It has also published a supporting explanatory memorandum.… 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