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 financial stability under Article 17(5) of MAR:
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ECON Publishes Draft Report on Proposed Regulation on European Crowdfunding Service Providers
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. It also contains an explanatory statement in which the rapporteur, Ashley Fox, summarizes the changes he considers would improve it.
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ESMA Publishes Opinion on Position Limits on ICE Low Sulphur Gasoil 1st Line Contracts
By Carolyn H. Jackson & Nathaniel Lalone on
Posted in EU Developments, Financial Markets
On May 15, the European Securities and Markets Authority (ESMA) published an opinion on position limits proposed by the UK Financial Conduct Authority (FCA) in respect of ICE Low Sulphur Gasoil 1st Line Future and Option contracts. ESMA found that the contracts are consistent with the objectives established in the revised Markets in Financial Instruments Directive (MiFID II) and with the methodology developed for setting those limits. The opinion also concerns certain balance of the month, or “Balmo” contracts, which share contract specifications with the monthly contract and are priced according to the same underlying objectives.
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