European Securities and Markets Authority

ESMA’s Supervisory Coordination network concludes its work

Saturday, May 30, 2020 - 12:07am

29 May 2020

Key Points: 
  • 29 May 2020

    Supervisory convergence

    The European Securities and Markets Authority (ESMA), the EU securities markets regulator, today announces the finalisation of the work of the Supervisory Coordination Network (SCN).

  • It was composed of senior supervisors from the EU27 NCAs and chaired by Verena Ross, ESMAs Executive Director.
  • As the Withdrawal Agreement entered into force on 31 January 2020, the work of the SCN is coming to an end.
  • With the SCN, ESMA has set up a coordination model that facilitated open discussions and allowed supervisors to reach practical common supervisory solutions.

Glancy Prongay & Murray LLP, a National Class Action Law Firm, Continues Investigation of Commercial Vehicle Group, Inc. (CVGI) on Behalf of Investors

Saturday, May 30, 2020 - 12:00am

Glancy Prongay & Murray LLP (GPM), a leading national shareholder rights law firm, continues its investigation on behalf of Commercial Vehicle Group, Inc. ("Commercial Vehicle Group or "the Company") (NASDAQ: CVGI ) investors concerning the Company and its officers possible violations of the federal securities laws.

Key Points: 
  • Glancy Prongay & Murray LLP (GPM), a leading national shareholder rights law firm, continues its investigation on behalf of Commercial Vehicle Group, Inc. ("Commercial Vehicle Group or "the Company") (NASDAQ: CVGI ) investors concerning the Company and its officers possible violations of the federal securities laws.
  • On March 16, 2020, after the market closed, Commercial Vehicle Group issued a press release announcing its fourth quarter and full year 2019 financial results.
  • Therein, the Company disclosed that certain financial statements for fiscal 2018 and 2019 periods should no longer be relied upon due to misstatements.
  • Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation.

ESMA’s Supervisory Coordination network concludes its work

Saturday, May 30, 2020 - 12:04am

29 May 2020

Key Points: 
  • 29 May 2020

    Supervisory convergence

    The European Securities and Markets Authority (ESMA), the EU securities markets regulator, today announces the finalisation of the work of the Supervisory Coordination Network (SCN).

  • It was composed of senior supervisors from the EU27 NCAs and chaired by Verena Ross, ESMAs Executive Director.
  • As the Withdrawal Agreement entered into force on 31 January 2020, the work of the SCN is coming to an end.
  • With the SCN, ESMA has set up a coordination model that facilitated open discussions and allowed supervisors to reach practical common supervisory solutions.

KBRA Releases Report Assigning AA+ Rating with Stable Outlook to Washington Metropolitan Area Transit Authority Dedicated Revenue Bonds, Series 2020A

Friday, May 29, 2020 - 5:47pm

On May 22, 2020, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA+ with a Stable Outlook to the Washington Metropolitan Area Transit Authority Dedicated Revenue Bonds, Series 2020A.

Key Points: 
  • On May 22, 2020, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA+ with a Stable Outlook to the Washington Metropolitan Area Transit Authority Dedicated Revenue Bonds, Series 2020A.
  • Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com .
  • KBRA is a full-service credit rating agency registered as an NRSRO with the U.S. Securities and Exchange Commission.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA).

ESMA updates its Questions and Answers on the Securitisation Regulation

Friday, May 29, 2020 - 12:07am

28 May 2020

Key Points: 
  • 28 May 2020

    Press Releases

    Securitisation

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has today updated its Questions and Answers on the Securitisation Regulation (Regulation 2017/2402).

  • In particular, the document clarifies how several specific fields in the templates should be completed, including questions which are specific to fields in the ABCP template.
  • The purpose of this document is to promote common, uniform and consistent supervisory approaches and practices in the day-to-day application of the Securitisation Regulation and to help regulated entities comply with their obligations.
  • ESMA will continue to develop this Q&A on the Securitisation Regulation in the coming months and will review and update them where required.

ESMA updates Q&AS on MiFID II investor protection

Friday, May 29, 2020 - 12:07am

28 May 2020

Key Points: 
  • 28 May 2020

    MiFID - Investor Protection

    Supervisory convergence

    The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has today updated its Questions and Answers on the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).

  • The Q&As on MiFID II and MiFIR investor protection and intermediaries topics includes a new answer on MiFID inducements.
  • The purpose of the MiFID II/MiFIR investor protection Q&As is to promote common supervisory approaches and practices in the application of MiFID II and MiFIR.
  • ESMA will continue to develop this Q&A document on investor protection topics under MiFID II and MiFIR, both adding questions and answers to the topics already covered and introducing new sections for other MiFID II investor protection areas not yet addressed in this Q&A document.

European Commission Releases Takeda From Commitment to Divest Shire’s Pipeline Compound SHP647

Friday, May 29, 2020 - 12:00am

Takeda Pharmaceutical Company Limited ( TOKYO:4502) (NYSE:TAK ) (Takeda) today announces that on May 28, the European Commission (the EC) has released Takeda from the obligation to divest the pipeline compound SHP647 and certain associated rights (SHP647), a commitment that was provided by Takeda to secure regulatory clearance of its acquisition of Shire plc (Shire).

Key Points: 
  • Takeda Pharmaceutical Company Limited ( TOKYO:4502) (NYSE:TAK ) (Takeda) today announces that on May 28, the European Commission (the EC) has released Takeda from the obligation to divest the pipeline compound SHP647 and certain associated rights (SHP647), a commitment that was provided by Takeda to secure regulatory clearance of its acquisition of Shire plc (Shire).
  • Specifically, in relation to the future potential overlap in the area of inflammatory bowel diseases between Takedas marketed product Entyvio (vedolizumab) and Shires pipeline compound SHP647, Takeda committed to divest SHP647.
  • Accordingly, the EC found that Takedas obligation to divest SHP647 was no longer justified and the EC waived the commitment.
  • Takeda will no longer develop the SHP647 compound in any inflammatory bowel disease indication, including Ulcerative Colitis or Crohns Disease.

ESMA updates Q&AS on MiFID II investor protection

Friday, May 29, 2020 - 12:04am

28 May 2020

Key Points: 
  • 28 May 2020

    MiFID - Investor Protection

    Supervisory convergence

    The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has today updated its Questions and Answers on the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).

  • The Q&As on MiFID II and MiFIR investor protection and intermediaries topics includes a new answer on MiFID inducements.
  • The purpose of the MiFID II/MiFIR investor protection Q&As is to promote common supervisory approaches and practices in the application of MiFID II and MiFIR.
  • ESMA will continue to develop this Q&A document on investor protection topics under MiFID II and MiFIR, both adding questions and answers to the topics already covered and introducing new sections for other MiFID II investor protection areas not yet addressed in this Q&A document.

Ashvattha Therapeutics to Present at 2020 AACR Virtual Annual Meeting

Monday, May 18, 2020 - 1:00pm

Ashvattha Therapeutics , a biotech company focused on novel dendrimer-based therapies targeting unmet medical needs in ocular, inflammatory diseases, and oncology, has been selected to present at the American Association for Cancer Research (AACR) Virtual Annual Meeting II , held June 22-24, 2020.

Key Points: 
  • Ashvattha Therapeutics , a biotech company focused on novel dendrimer-based therapies targeting unmet medical needs in ocular, inflammatory diseases, and oncology, has been selected to present at the American Association for Cancer Research (AACR) Virtual Annual Meeting II , held June 22-24, 2020.
  • The poster will be available for reviewing on June 22, the first day of the AACR Virtual Annual Meeting II.
  • The abstract will also be published in an online-only Proceedings supplement to the AACR journal Cancer Research after the completion of the AACR Virtual Annual Meeting II.
  • For more information, visit the AACR Virtual Annual Meeting II page at www.aacr.org .

ESMA supports ESRB actions to address COVID-related systemic vulnerabilities

Friday, May 15, 2020 - 12:05am

14 May 2020

Key Points: 
  • 14 May 2020

    COVID-19

    Fund Management

    The European Securities and Markets Authority (ESMA), the EU securities markets regulator, has published a statement supporting the recommendations issued by the General Board of the European Systemic Risk Board (ESRB).

  • These recommendations are part of a set of actions to address the Coronavirus emergency from a macroprudential perspective.
  • In this context, ESMA also welcomes the ESRB public communication around the importance of the timely use of liquidity management tools by investment funds and insurers with exposures to less liquid assets.
  • The ESRB action complements the ongoing ESMA coordination role in this area which has intensified in response to the COVID-19 pandemic.