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ESMA 2015 work programme. November 2014.
ESMA has published, on the 30th September 2014, its work programme for 2015 recently approved by the Board of Supervisors that describes the strategic and operational objectives of its activities and is in line with the ESMA´s multiannual work programme 2013-2015. The ESMA´s 2015 work programme is based on a budget of € 38,639,000 and…
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Research note on market-based long-term financing solutions for Small and Medium Enterprises (SMEs) and infrastructures. November 2014.
IOSCO has published, on the 29th September, a research note describing a compilation of recent examples of capital market solutions that have contributed to the financing of Small and Medium Enterprises (hereinafter SMEs) and infrastructure projects, that has been prepared for the G 20 Finance Ministers and Central Bank Governors. The banking sector reduced ability…
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Questions and Answers (Q&As) on the implementation of Regulations, Directives, Guidelines and issues of interest. November 2014.
Article 8.1 b) of Regulation Nº 1095/2010 establishing a European Securities and Markets Authority (ESMA) provides that ESMA shall have the task to contribute to the consistent application of legally binding European Union acts, in particular by contributing to a common supervisory culture, ensuring consistent, efficient and effective application of the legislation, preventing regulatory arbitrage,…
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Draft Regulatory Technical Standards on major shareholdings and an indicative list of financial instruments subject to notification requirements under the revised Transparency Directive. November 2014.
ESMA has published, on the 29th September 2014, the final report on draft regulatory technical standards on major shareholdings and an indicative list of financial instruments subject to notification in Directive 2013/50/EU, of 22 October 2013, amending Directive 2004/109/EC on the harmonization of transparency requirements in relation to information about issuers whose securities are admitted…
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Opinion on the review of the CESR guidelines on a common definition of European Money Market Funds. November 2014.
ESMA has published, on the 22nd August, a review of the CESR (ESMA´s predecessor) on a common definition of European Money Market Funds. ESMA´s competence to deliver opinions to competent authorities is based on article 29.1.a) of the Regulation nº 1095/2010 (the ESMA Regulation). CESR adopted, in May 2010, the Guidelines on a common definition…
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MiFID II/MiFIR most remarkable change related to market infrastructures. July 2014.
The new Directive on Markets in Financial Instruments (hereinafter MiFID II) and the Regulation on Markets in Financial Instruments and amending Regulation 648/2012 (hereinafter MiFIR) have been published in the Official Journal of the European Union on the 12 of June. Over three and a half years after the publication of the first draft (October…
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MiFID II/MiFIR most remarkable changes related to the investors protection and conduct of business rules. July 2014.
The new Directive on Markets in Financial Instruments (hereinafter MiFID II) and the Regulation on Markets in Financial Instruments and amending Regulation 648/2012 (hereinafter MiFIR) have been published in the Official Journal of the European Union on the 12 of June. (For more information on MiFID II/MiFIR processing and on ESMA consultations papers about level…
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Draft European Commission Regulation on transparency of securities financing transactions. July 2014.
The European Commission adopted, on the 29th of January 2014, a proposal for a regulation aimed at increasing transparency of certain transactions outside the regulated banking sector. This proposal provides a set of measures to enhance regulators’ and investors’ understanding of securities financing transactions (hereinafter STFs). These transactions have been a source of contagion, leverage…
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ESMA, EBA and EIOPA Joint Committee final report on Guidelines for complaints-handling for the securities and banking sectors. July 2014.
The Joint Committee of European Supervisory Authorities (hereinafter ESAs) issued, on the 27th May 2014, a final report containing the guidelines for complaints-handling for the securities and banking sectors. The European Insurance and Occupational Pensions Authority (hereinafter EIOPA) published, in June 2012, its guidelines on complaints-handling by insurance undertakings. ESMA and the European Banking Authority…
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ESMA opinion on good practices on governance arrangements for structured retail products. July 2014.
ESMA has published, on the 27th March, a review of certain aspects linked to the manufacturing and distribution of retail structured products or structured retail products (hereinafter SRPs). ESMA´s competence to deliver opinions to competent authorities is based on article 29.1.a) of the Regulation No 1095/2010 (the ESMA Regulation). ESMA opinion takes into account relevant…
