ESMA has published a letter to the EU Commission regarding its proposals for the Commission's review of the Central Securities Depositories Regulation (CSDR). The letter from ESMA's interim chair to the EU's Commissioner for Financial Services, Financial Stability and Capital Markets Union is intended to...
ESMA, the EU’s securities markets regulator, recommends to the European Commission (EC) to permanently lower the threshold to notify net short positions on shares to national competent authorities (NCAs) from 0.2% to 0.1%. ESMA has examined the evidence gathered after its successive emergency decisions, beginning in March 2020,...
Investment firms play an important role in capital markets because they offer investors access to securities and derivatives markets through a number of different services, including investment advice, portfolio management, brokerage, order execution, proprietary trading and underwriting. These firms are regulated and supervised for a number...
A SPAC, or Special Purpose Acquisition Company, is a new company established for the specific purpose of raising capital, applying for a stock exchange listing and within a short period thereafter, financing a merger or acquisition. The FSMA is proposing to introduce minimum standards for SPACs....
On 6 May 2021, the European Commission adopted a Delegated Regulation extending the transitional period referred to in Article 89(1), first subparagraph, of the European Market Infrastructure Regulation (EMIR). EMIR provides for a temporary exemption from the clearing obligation for pension scheme arrangements (PSAs) meeting certain...
The European Securities and Markets Authority (ESMA), has published the Final Report on the review of transaction and reference data reporting obligations under MiFIR. The final report contains recommendations and possible legislative amendments to MiFID II/MiFIR with a view to simplifying the current reporting regimes whilst...
ISSA published the ISSA ISO 20022 Report. ISSA started a Working Group (WG) in the summer of 2020 to look at the Securities Services market's adoption of ISO 20022. The aim was to understand what was happening now, and the opportunities and challenges of adopting...
The EBF and 14 trade associations1 representing a wide range of stakeholders in the European and global financial markets recently wrote to the European Commission and ESMA raising concerns about the implementation of the mandatory buy-in requirement under the EU’s CSDR2 Settlement Discipline Regime. The current mandatory...
ENISA Report - EU Cybersecurity Initiatives in the Finance Sector : the report published guides the reader towards European cybersecurity initiatives dedicated to the finance sector. Its purpose is to map today’s reality of a very complex cybersecurity landscape in the EU finance sector. The...
ESMA released a statement to highlight to retail investors the risks connected with trading decisions based exclusively on exchanges of views, informal recommendations and sharing of trading intentions through social networks and unregulated online platforms. The statement is issued as part of ESMA’s investor protection objective to...
