ESMA has recently written to the EU Commission providing its views and recommendations on the clearing obligation for pension scheme arrangements (PSA). Following its assessment, ESMA has concluded that PSAs are operationally ready to clear their over the counter (OTC) derivatives but they should be given...
EFAMA and EFSA see great value in the creation of a consolidated tape to support Europe’s capital markets. However, they qualify that statement with a reminder that the framework for a successful consolidated tape should i) address the known market failure around market data costs, ii) manage...
Some key messages delivered by Commissioner McGuinness, on CMU, Central Clearing post-Brexit and Digital Finance Full text (and other topics) Capital Markets Union Last week’s CMU package implements a number of the measures in the 2020 Action Plan. We have four main elements. First, the European single access point...
The EU SFDR reporting is pushed back to 2023. The European Commission said in a letter to the European Parliament and Council that it is postponing the next phase of reporting under the Sustainable Finance Disclosure Regulation until 1 January 2023, the second delay in implementation...
The EU Commission has recently adopted a package of measures aimed at further integrating EU capital markets, ‘CMU and digital finance’ including a CMU statement taking stock of what has been done and what remains to be done on 4 legislative proposals: 2021 Capital Markets...
From Thetradenews.com: Euronext to cut ties with LCH and move clearing to Italian CCP following merger Earliest date for derivatives clearing deal to end is 2024 under the 10-year deal signed in 2017, as LCH shrugs off impact of the break-up on its business. By Jonathan Watkins. Euronext’s...
ESMA seeks stakeholder input on shaping advice on retail investor protection. ESMA has published a call for evidence on a number of retail investor protection topics under MiFID II. These views will feed into ESMA’s technical advice to the European Commission (EC) on the development of...
ESMA to focus on supervision, sustainability, digitalization and the Capital Markets Union in 2022 The European Securities and Markets Authority (ESMA) published its 2022 Annual Work Programme (AWP), setting out its priority work areas for 2022: AWP 2022. Key areas of focus include: o the exercise of new,...
ESMA recently issued a consultation paper on the review of the Short Selling Regulation (SSR). In the consultation paper ESMA conducts a systematic review of the provisions of the SSR. Among other things ESMA sets out suggestions for operational improvements and policy clarifications on: The calculation of net...
ESMA recently issued a consultation paper setting out proposals for improvements to the MiFID II framework on best execution reports. Article 27 of MiFID II sets out best execution requirements which aim at ensuring that investment firms take all sufficient steps to obtain, when executing client orders, the...
Nederlands 
Frans 