European Market Infrastructure Regulation

ESMA updates Brexit statements for the end of UK transition period

Retrieved on: 
Tuesday, November 10, 2020
Information technology management, Financial regulation, Content management systems, Public records, European Market Infrastructure Regulation, Systemic risk, Reporting, Records management, Articles, Information

Previously published in preparation for a no-dealBrexitscenarioin 2019,thefollowingstatementshavenowbeen updated:

Key Points: 
  • Previously published in preparation for a no-dealBrexitscenarioin 2019,thefollowingstatementshavenowbeen updated:
    Statement on issues affecting EMIR and SFTR reporting coveringissues affecting reporting, recordkeeping, reconciliation, data access, portability and aggregation of derivatives under Article 9 EMIRandof securitiesfinancingtransactionsreported under Article 4 of SFTR;
    Statement on ESMAs Data Operational Plan coveringactions related to FIRDS, FITRS, DVCAP, transaction reporting systems, and ESMAs registers and data.

EMIR Reporting Validation Rules applicable from 8 March 2021

Retrieved on: 
Tuesday, October 27, 2020
Financial regulation, Financial markets, European Union, Corporate law, Systemic risk, Given names, European Market Infrastructure Regulation, Government, Esma, European Securities and Markets Authority, Essential Services Maintenance Act

The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has postponed the applicability date of the updated EMIR validation rules from 1 February to 8 March 2021.

Key Points: 
  • The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has postponed the applicability date of the updated EMIR validation rules from 1 February to 8 March 2021.
  • The amended rules, which were published by ESMA on 10 September 2020, will apply five weeks later than originally planned due to technical issues related to their implementation in light of the UKs withdrawal from the EU.

EMIR Reporting Validation Rules applicable from 8 March 2021

Retrieved on: 
Monday, October 26, 2020
Financial regulation, Financial markets, European Union, Corporate law, Systemic risk, Given names, European Market Infrastructure Regulation, Government, Esma, European Securities and Markets Authority, Essential Services Maintenance Act

The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has postponed the applicability date of the updated EMIR validation rules from 1 February to 8 March 2021.

Key Points: 
  • The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has postponed the applicability date of the updated EMIR validation rules from 1 February to 8 March 2021.
  • The amended rules, which were published by ESMA on 10 September 2020, will apply five weeks later than originally planned due to technical issues related to their implementation in light of the UKs withdrawal from the EU.

ESMA consults on standards for CCP activities and model amendments

Retrieved on: 
Saturday, October 24, 2020
Financial markets, Systemic risk, Finance, Money, Financial regulation, Corporate law, European Union, European Market Infrastructure Regulation, European Securities and Markets Authority, Esma, Central counterparty clearing

23 October 2020

Key Points: 
  • 23 October 2020

    CCP Directorate

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has launched a consultation on draft Regulatory Technical Standards (RTS) related to changes to central counterparties (CCPs) activities and models.

  • Specifically, the RTS relate to the conditions for a CCP to add new additional services or activities to its business, that are not already covered by the initial authorisation.
  • The RTS also set out the conditions under which changes to CCP models and parameters are significant under EMIR.
  • Furthermore, prior to making any significant change to its risk models or parameters a CCP must obtain the prior authorisation of the competent authorities and ESMA.

Public Consultation on Guidelines under Article 21 of EMIR

Retrieved on: 
Saturday, October 24, 2020
Financial regulation, Systemic risk, Corporate law, European Market Infrastructure Regulation, Repurchase agreement

648/2012 (EMIR) sets out an obligation for the national competent authorities to review the arrangements, strategies, processes and mechanisms implemented by the central counterparties and to evaluate risks central counterparties are or might be exposed to.

Key Points: 
  • 648/2012 (EMIR) sets out an obligation for the national competent authorities to review the arrangements, strategies, processes and mechanisms implemented by the central counterparties and to evaluate risks central counterparties are or might be exposed to.
  • Frequency and depth of such review and evaluation are to be established by the competent authorities by taking into account certain criteria provided for in Article 21(3) of EMIR.
  • The consultation will be open until 16 November 2020.
  • ESMA will consider the feedback it receives to the consultation in Q4 2020 with a view to finalising the proposed guidelines and publishing a final report by Q1 2021.

ESMA consults on CCP supervisory reviews and evaluation processes

Retrieved on: 
Saturday, October 24, 2020
Financial markets, Systemic risk, Corporate law, European Union, Given names, European Market Infrastructure Regulation, Financial regulation, Articles, European Securities and Markets Authority, Esma, CCPS, Evaluation

23 October 2020

Key Points: 
  • 23 October 2020

    CCP Directorate

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has launched today a consultation on guidelines addressing the consistency of supervisory reviews and evaluation processes of CCPs under Article 21 of EMIR.

  • The consultation paper seeks input from all interested stakeholders on draft guidelines aimed at clarifying common procedures and methodologies for the supervisory review and evaluation process of CCPs by their competent authorities.
  • The review and evaluation processes should be conducted in a manner that is appropriate to the size, structure and internal organisation of CCPs, as well as to the nature, scope and complexity of their activities.
  • ESMA will consider the feedback it receives to the consultation and aims to finalise the guidelines by Q1 2021.

ESMA consults on standards for CCP activities and model amendments

Retrieved on: 
Saturday, October 24, 2020
Financial markets, Systemic risk, Finance, Money, Financial regulation, Corporate law, European Union, European Market Infrastructure Regulation, European Securities and Markets Authority, Esma, Central counterparty clearing

23 October 2020

Key Points: 
  • 23 October 2020

    CCP Directorate

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has launched a consultation on draft Regulatory Technical Standards (RTS) related to changes to central counterparties (CCPs) activities and models.

  • Specifically, the RTS relate to the conditions for a CCP to add new additional services or activities to its business, that are not already covered by the initial authorisation.
  • The RTS also set out the conditions under which changes to CCP models and parameters are significant under EMIR.
  • Furthermore, prior to making any significant change to its risk models or parameters a CCP must obtain the prior authorisation of the competent authorities and ESMA.

Public Consultation on Guidelines under Article 21 of EMIR

Retrieved on: 
Saturday, October 24, 2020
Financial regulation, Systemic risk, Corporate law, European Market Infrastructure Regulation, Repurchase agreement

648/2012 (EMIR) sets out an obligation for the national competent authorities to review the arrangements, strategies, processes and mechanisms implemented by the central counterparties and to evaluate risks central counterparties are or might be exposed to.

Key Points: 
  • 648/2012 (EMIR) sets out an obligation for the national competent authorities to review the arrangements, strategies, processes and mechanisms implemented by the central counterparties and to evaluate risks central counterparties are or might be exposed to.
  • Frequency and depth of such review and evaluation are to be established by the competent authorities by taking into account certain criteria provided for in Article 21(3) of EMIR.
  • The consultation will be open until 16 November 2020.
  • ESMA will consider the feedback it receives to the consultation in Q4 2020 with a view to finalising the proposed guidelines and publishing a final report by Q1 2021.

ESMA consults on CCP supervisory reviews and evaluation processes

Retrieved on: 
Saturday, October 24, 2020
Financial markets, Systemic risk, Corporate law, European Union, Given names, European Market Infrastructure Regulation, Financial regulation, Articles, European Securities and Markets Authority, Esma, CCPS, Evaluation

23 October 2020

Key Points: 
  • 23 October 2020

    CCP Directorate

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has launched today a consultation on guidelines addressing the consistency of supervisory reviews and evaluation processes of CCPs under Article 21 of EMIR.

  • The consultation paper seeks input from all interested stakeholders on draft guidelines aimed at clarifying common procedures and methodologies for the supervisory review and evaluation process of CCPs by their competent authorities.
  • The review and evaluation processes should be conducted in a manner that is appropriate to the size, structure and internal organisation of CCPs, as well as to the nature, scope and complexity of their activities.
  • ESMA will consider the feedback it receives to the consultation and aims to finalise the guidelines by Q1 2021.

Summit Financial Supports Launch of New Pennsylvania-Based Wealth Advisory Firm

Retrieved on: 
Friday, October 23, 2020
Consulting, Banking, Professional services, Finance, Finance, Money, Financial services, Professional certification in finance, Financial planners, Financial adviser, Registered Investment Adviser, Certified Financial Planner, Cetera Financial Group, Consulting, Banking, Professional services, Finance, Finance, Money, Economy, Systemic risk, Financial markets, Financial planner, Financial adviser, Registered Investment Adviser, European Market Infrastructure Regulation, Financial services, Certified Financial Planner, Central counterparty clearing

Summit Financial (Summit), a prominent financial services firm for top independent and breakaway advisors, is expanding its reach to Pennsylvania with the launch of MRK Wealth Advisors (MRK Wealth).

Key Points: 
  • Summit Financial (Summit), a prominent financial services firm for top independent and breakaway advisors, is expanding its reach to Pennsylvania with the launch of MRK Wealth Advisors (MRK Wealth).
  • Bates has worked as a financial planner for the last five years and has earned the CERTIFIED FINANCIAL PLANNER certification.
  • Summit Financial, LLC, a SEC registered investment advisor established November 2018, is the successor firm to Summit Equities, Inc. (registered with the SEC in 1991) and Summit Financial Resources, Inc. (registered with the SEC in 1983) for all of their investment advisory and financial planning business.
  • SummitVantage is a branding slogan only used to identify the services offered by Summit Financial Holdings, LLCs affiliated firms.