European Securities and Markets Authority

ESMA withdraws registration of NEX Abide Trade Repository AB

Saturday, August 1, 2020 - 12:05am

31 July 2020

Key Points: 
  • 31 July 2020

    Post Trading

    Trade Repositories

    The European Securities and Markets Authority (ESMA), the EU's Securities Markets Authority, has today withdrawn the trade repository (TR) registration of NEX Abide Trade Repository AB (NATR).

  • The withdrawal decision follows the official notification to ESMA by NATR of its intention to renounce its registration as a TR under the conditions set out in Article 71(1)(a) of EMIR.
  • Point (a) of Article 71(1) of EMIR provides that without prejudice to Article 73, ESMA shall withdraw the registration of a trade repository where the trade repository expressly renounces the registration or has provided no services for the preceding six months.
  • ESMA has updated itslist of authorised trade repositoriesin the EU.

Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Velocity Financial, Inc. (VEL) on Behalf of Investors

Saturday, August 1, 2020 - 12:00am

In January 2020, Velocity completed its initial public offering ("IPO"), selling 7,250,000 shares at $13 per share and raising approximately $94 million.

Key Points: 
  • In January 2020, Velocity completed its initial public offering ("IPO"), selling 7,250,000 shares at $13 per share and raising approximately $94 million.
  • On May 13, 2020, the Company announced its financial results for first quarter 2020, the same quarter in which the IPO was conducted.
  • Whistleblower Notice: Persons with non-public information regarding Velocity should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program.
  • Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation.

ESMA withdraws registration of NEX Abide Trade Repository AB

Saturday, August 1, 2020 - 12:04am

31 July 2020

Key Points: 
  • 31 July 2020

    Post Trading

    Trade Repositories

    The European Securities and Markets Authority (ESMA), the EU's Securities Markets Authority, has today withdrawn the trade repository (TR) registration of NEX Abide Trade Repository AB (NATR).

  • The withdrawal decision follows the official notification to ESMA by NATR of its intention to renounce its registration as a TR under the conditions set out in Article 71(1)(a) of EMIR.
  • Point (a) of Article 71(1) of EMIR provides that without prejudice to Article 73, ESMA shall withdraw the registration of a trade repository where the trade repository expressly renounces the registration or has provided no services for the preceding six months.
  • ESMA has updated itslist of authorised trade repositoriesin the EU.

ESMA updates transparency opinions for 3rd country venues

Wednesday, July 29, 2020 - 12:05am

28 July 2020

Key Points: 
  • 28 July 2020

    MiFID - Secondary Markets

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has updated the list of third-country venues (TCTV) in the context of the opinion on post-trade transparency under MiFIR, following new requests from the industry.

  • Following the publication of the opinion and the list of third-country venues in June 2020, ESMA has received requests from market participants to assess more venues against the criteria set out in the opinion.
  • The review is now finalised and ESMA is publishing:

    For market participants to automatically process thelist of venues included in the annex of both the opinion on transparency and the opinion on position limits, ESMA published them in csv format.

  • The relevant links related to the opinions and their annexes are now available on a dedicated webpage.

ESMA updates transparency opinions for 3rd country venues

Tuesday, July 28, 2020 - 4:04pm

28 July 2020

Key Points: 
  • 28 July 2020

    MiFID - Secondary Markets

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has updated the list of third-country venues (TCTV) in the context of the opinion on post-trade transparency under MiFIR, following new requests from the industry.

  • Following the publication of the opinion and the list of third-country venues in June 2020, ESMA has received requests from market participants to assess more venues against the criteria set out in the opinion.
  • The review is now finalised and ESMA is publishing:

    For market participants to automatically process thelist of venues included in the annex of both the opinion on transparency and the opinion on position limits, ESMA published them in csv format.

  • The relevant links related to the opinions and their annexes are now available on a dedicated webpage.

ESMA publishes the MiFID/MiFIR Annual Review Report

Thursday, July 23, 2020 - 4:04pm

23 July 2020

Key Points: 
  • 23 July 2020

    MiFID - Secondary Markets

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has published today the MiFID/MiFIR Annual Review Report under Commission Delegated Regulation (EU) 2017/583 (RTS 2).

  • This report lays down the thresholds for the liquidity criterion 'average daily number of trades' for bonds, as well as the trade percentiles.
  • In the report, ESMA is suggesting to the European Commission to move to the next stage for:

    These measures are designed to increase the transparency available to market participants in the bond market.

  • ESMA considers such move premature since the first annual transparency calculation for these non-equity instruments will only be published this year.

ESMA publishes the MiFID/MiFIR Annual Review Report

Thursday, July 23, 2020 - 1:04pm

23 July 2020

Key Points: 
  • 23 July 2020

    MiFID - Secondary Markets

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has published today the MiFID/MiFIR Annual Review Report under Commission Delegated Regulation (EU) 2017/583 (RTS 2).

  • This report lays down the thresholds for the liquidity criterion 'average daily number of trades' for bonds, as well as the trade percentiles.
  • In the report, ESMA is suggesting to the European Commission to move to the next stage for:

    These measures are designed to increase the transparency available to market participants in the bond market.

  • ESMA considers such move premature since the first annual transparency calculation for these non-equity instruments will only be published this year.

KBRA Assigns Preliminary Ratings to J.P. Morgan Wealth Management Mortgage Trust 2020-ATR1 (JPMWM 2020-ATR1)

Wednesday, July 22, 2020 - 11:11pm

Further disclosures relating to this rating action are available in the U.S. Information Disclosure Form referenced above.

Key Points: 
  • Further disclosures relating to this rating action are available in the U.S. Information Disclosure Form referenced above.
  • 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).

KBRA Assigns Preliminary Rating to Arby’s Funding, LLC, Series 2020-1

Monday, July 20, 2020 - 10:02pm

Kroll Bond Rating Agency (KBRA) announces the preliminary ratings to two note classes of Arbys Funding, LLC, Series 2020-1, a whole business securitization.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) announces the preliminary ratings to two note classes of Arbys Funding, LLC, Series 2020-1, a whole business securitization.
  • As of March 29, 2020, the Arbys restaurant system included 3,520 restaurants with annual system-wide sales of approximately $4.0 billion.
  • 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 tells market participants to continue preparations for the end of the UK transition period

Saturday, July 18, 2020 - 12:07am

17 July 2020

Key Points: 
  • 17 July 2020

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, urges financial market participants to finalise preparations and implement suitable contingency plans in advance of the end of the United Kingdoms (UK) transition period on 31 December 2020.

  • ESMA also confirms that previously agreed Memoranda of Understandings (MoUs) on cooperation and information exchange concluded with the UKs Financial Conduct Authority (FCA) remain valid and will come into effect at the end of the transition period.
  • On 1 January 2021, once the UKs transition period ends, financial market participants whose activity might be impacted should have fully implemented their preparatory measures to mitigate any risks stemming from the end of the transition period.
  • ESMA will continue to review its Brexit-related statements, in particular in relation to operational issues, and will further communicate in due course.