On May 20, the European Securities and Markets Authority (ESMA) proposed to the European Commission (Commission) a permanent reduction to the threshold to notify net short positions on shares to EU national competent authorities (NCAs) from 0.2 percent to 0.1 percent.
Continue Reading ESMA Recommends Permanently Lowering the Reporting Threshold for Net Short Positions to 0.1 Percent
ESMA Allows Decision on Reporting Net Short Positions to Expire
Posted in EU Developments, Financial Markets
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).
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ESMA Publishes Guidelines on Supervisory Review and Evaluation Process of CCPs
Posted in EU Developments, Financial Markets
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:
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ESMA Renews 0.1 Percent Reporting Requirement Decision for Net Short Position Holders
Posted in EU Developments, Financial Markets
On December 16, the European Securities and Markets Authority (ESMA) renewed its decision to temporarily require the 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 measure applies starting December 19 for a period of three months (the Decision).
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ESMA Publishes Consultation Paper on Draft RTS Relating to CCPs
Posted in EU Developments, Financial Markets
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).
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ESMA Consults on Third-Country Reporting Under MiFID II and MiFIR
Posted in EU Developments, Financial Markets
On January 31, the European Securities and Markets Authority (ESMA) published a consultation paper (the CP) containing draft technical standards on the reporting requirements for third-country firms who provide investment services and activities in the European Union (EU) under the revised Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Directive (MiFIR).
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FCA Publishes SAR and STOR Guidance
Posted in Financial Markets, UK Developments
On October 18, the Financial Conduct Authority (FCA) published a letter giving guidance on the distinction between suspicious activity reports (SARs) and suspicious transaction and order reports (STORs). The letter was sent in response to a request by UK Finance, a trade association, following a meeting of the ‘SARs Collaboration Working Group.’
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ESMA Announces Results of MiFID II Annual Calculations of LIS and SSTI Thresholds for Bonds
On March 19, the European Securities and Markets Authority (ESMA) published a press release announcing the results of the annual transparency calculations of the large in scale (LIS) and size specific to the instruments (SSTI) thresholds for bonds. ESMA’s publication had originally been planned for March 1, but was postponed as its IT systems required more time than anticipated to complete the calculations, as reported in the Corporate & Financial Weekly Digest edition of March 8, 2019.
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ESMA Publishes Statement on Clearing and Trading Obligations for Small Financial Counterparties
Posted in EU Developments, Financial Markets
On January 31, the European Securities and Markets Authority (ESMA) published a statement addressing issues on the forthcoming implementation of the European Market Infrastructure Regulation Regulatory Fitness and Performance program (EMIR REFIT), relating to clearing and trading obligations for small financial counterparties. ESMA’s statement also addresses the requirements for reporting of derivatives that were outstanding on or after August 16, 2012, and terminated before the EMIR reporting start date of February 12, 2014, which is a process commonly referred to as “backloading.”
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ESAs Publish Consultation Paper Relating to MLD4
Posted in EU Developments, Financial Markets
On November 8, the Joint Committee of the European Supervisory Authorities (ESAs) published a consultation paper on draft joint guidelines on cooperation and information exchange between national competent authorities (NCAs) supervision credit and financial institutions for the purposes of the Fourth Money Laundering Directive (MLD4)
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