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Investor education initiatives relating to investment services. March 2013.
IOSCO Board has published, the 25 of February, a report on investor education relating to investment services based on a fact-finding survey carried out on Committee 3 members. This descriptive report sets out the results of this survey and its purpose is to provide IOSCO members and the public in general with an overview of…
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Benchmarks manipulation: EC consultation paper and other issues. November 2012.
The European Commission has published, on the 5th September 2012 (after the LIBOR manipulation case) a consultation report requesting stakeholders to comment on the possible framework for the regulation of production and use of indices serving as benchmarks in financial and other contracts. The integrity of benchmarks is critical to the pricing of many financial…
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2013 ESMA work programme. November 2012.
ESMA has published, on 1st October 2012, its work program for 2013, approved (along with a 2013-3015 multi annual work programme) by ESMA’s Board of Supervisor on 24th September. The work programme describes the strategy and the goals and deliverables ESMA pretends to achieve in 2013. The objectives and priorities for next year are based…
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Draft Regulatory and Implementing Technical Standards under EMIR Regulation. November 2012.
ESMA has published, on the 27th September, a final report containing the draft Regulatory Technical Standards (RTSs) and the Implementing Technical Standards (ITSs)) under the Regulation nº 648/2012, of the European Parliament and of the Council, on OTC derivatives, Central Counterparties (CCPs) and Trade Repositories (TRs) (forward EMIR Regulation). The RTSs and the ITSs include…
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Policy recommendations for Money Market Funds. November 2012.
IOSCO Board has published, the 9th October, a final report on Policy Recommendations for Money Market Funds (forward MMFs) which proposes recommendations to be the basis for common standards for the regulation and management of money market funds across jurisdictions; a majority of the commissioners of the SEC did not support its publication because they…
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Recommendations on global developments in securitisation regulation. November 2012.
IOSCO Board has published, the 9th October, a final report on Global Developments in Securitisation Regulation which proposes a series of recommendations aimed at ensuring securitisation markets development. This document has been issued as a response to a Financial Stability Board (FSB)´s request which, at the same time, is part of the FSB ongoing work…
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Regulation on OTC derivatives, Central Counterparties and Trade Repositories (EMIR). July 2012.
On 3 and 4 July respectively, the EU Parliament and Council adopted a new regulation in order to increase transparency and reduce risks in OTC (over the counter) derivatives markets: “Regulation on OTC Derivatives, central counterparties and trade repositories.” The process began on 15 September 2010 when Michel Barnier (European Commissioner for Internal Market and…
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Proposal for a Regulation on Key Information Documents on investment products. July 2012.
On the 3 of July the European Commission (EC) adopted a proposal of regulation which introduces new consumer-friendly standards for information about investments (Regulation on key information documents on investment products). The genesis of this proposal is a request from the ECOFIN Council in May 2007 for the European Commission to examine the coherence of EU…
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Technical standards and guidelines on certain aspects of the MiFID suitability requirements. July 2012.
ESMA has published, on the 6 of July 2012, technical standards and guidelines on certain aspects that MiFID imposes for assessing the suitability of the financial product or service when the advisory service is provided in the field of investment or discretionary management of portfolios. These standards are issued under article 16 of the Rules…
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Technical standards and guidelines on certain aspects of the requirements of the MiFID´s compliance function. July 2012.
ESMA has published, on the 6 of July 2012, technical standards and guidelines on certain aspects of MiFID requirements imposed on the compliance function in investment firms. These standards are issued under article 16 of ESMA standards. Article 13.2 of MiFID states that investment firms shall set out policies and procedures which are sufficient to…
