European Union

ESMA updates Q&AS on MiFID II and MiFIR investor protection and intermediaries

Retrieved on: 
Thursday, May 30, 2019

The European Securities and Markets Authority (ESMA) 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).

Key Points: 
  • The European Securities and Markets Authority (ESMA) 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 updated Q&As provides new answers on best execution and information on costs and charges.
  • The purpose of these 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 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.

The European Commission, European Investment Bank and Breakthrough Energy Ventures establish a new €100 million fund to support clean energy investments

Retrieved on: 
Wednesday, May 29, 2019

The European Commission, European Investment Bank and Breakthrough Energy Ventures establish a new €100 million fund to support clean energy investments Brussels, 29 May 2019 Breakthrough Energy Ventures Europe (BEV-E), a new 100 million investment fund was established by the European Commission, the European Investment Bank and Breakthrough Energy Ventures during the Fourth Mission Innovation Ministerial meeting in Vancouver, Canada.

Key Points: 

The European Commission, European Investment Bank and Breakthrough Energy Ventures establish a new €100 million fund to support clean energy investments

  • Brussels, 29 May 2019 Breakthrough Energy Ventures Europe (BEV-E), a new 100 million investment fund was established by the European Commission, the European Investment Bank and Breakthrough Energy Ventures during the Fourth Mission Innovation Ministerial meeting in Vancouver, Canada.
  • The European Investment Bank is pleased to work with world class partners to support the Breakthrough Energy Ventures Europe fund.
  • The agreement between the European Investment Bank and Breakthrough Energy Ventures builds on the Memorandum of Understanding signed on 17 October 2018 by Carlos Moedas, European Commissioner for Research, Science and Innovation, and Bill Gates, Chairman of Breakthrough Energy Ventures.

ESMA issues five positive opinions on national product intervention measures

Retrieved on: 
Wednesday, May 29, 2019

28 May 2019

Key Points: 
  • 28 May 2019

    MiFID - Investor Protection

    The European Securities and Markets Authority (ESMA) has today issued five positive opinions on product intervention measures taken by the National Competent Authorities (NCAs) of the Finland, Lithuania and Spain.

  • ESMAs opinion finds that the proposed measures are justified and proportionate and that it is necessary for NCAs of other Member States to take product intervention measures that are at least as stringent as ESMAs measures.
  • ESMA has issued opinions on national product intervention measures from:

    Background

    NCAs may take product intervention measures in accordance with Article 42 of Regulation (EU) No 600/2014.

  • The opinions that ESMA previously issued on proposed national product intervention measures are published on its website.

Highlights - The professional status of rural women in the EU – Study - Committee on Women's Rights and Gender Equality

Retrieved on: 
Tuesday, May 28, 2019

The study gives overview of the professional status of rural women in the EU, their employment situation and position in the labour market in rural areas in most relevant Member States.

Key Points: 
  • The study gives overview of the professional status of rural women in the EU, their employment situation and position in the labour market in rural areas in most relevant Member States.
  • The document provides identification of the best practices implemented in the Member States and concludes with policy recommendations on the improvement of the employment situation and legal status of women living in rural areas of the EU.

California Lawyers Association (CLA) Intellectual Property Section Conference To Address Critical Internet, E-Commerce and IP Legal Issues

Retrieved on: 
Tuesday, May 28, 2019

Presented by the Intellectual Property Law Section of California Lawyers Association (CLA), "IP and the Internet" will address evolving Internet-related legal issues such as California's new Consumer Privacy Act, the federal copyright Music Modernization Act, the European Union (EU)'s new Copyright Directive, and rapidly evolving legal issues affecting e-commerce.

Key Points: 
  • Presented by the Intellectual Property Law Section of California Lawyers Association (CLA), "IP and the Internet" will address evolving Internet-related legal issues such as California's new Consumer Privacy Act, the federal copyright Music Modernization Act, the European Union (EU)'s new Copyright Directive, and rapidly evolving legal issues affecting e-commerce.
  • California businesses, and professionals advising them, are faced with complex legal issues at state, federal and international levels," said Emily Yu, Conference Chair.
  • "This conference will provide crucial, up-to-the-minute information on pressing legal issues affecting the Internet and e-commerce."
  • About the Intellectual Property Law Section: The CLA Intellectual Property Law Section (formerly under the State Bar of California) was organized in 1976.

ESMA consults on tiering, comparable compliance and fees under EMIR 2.2

Retrieved on: 
Tuesday, May 28, 2019

28 May 2019

Key Points: 
  • 28 May 2019

    Post Trading

    Press Releases

    The European Securities and Markets Authority (ESMA) has today published three consultation papers under EMIR 2.2 on tiering, comparable compliance and fees.

  • Tier 2 CCPs will need to comply with the requirements under EMIR or ask for comparable compliance, where compliance with the requirements in a third country satisfies compliance with the requirements under EMIR.
  • ESMA has received mandates for technical advice from the European Commission (EC) on tiering, comparable compliance and fees, and is now seeking input from stakeholders by 29 July 2019.
  • This new procedure, known as comparable compliance, permits Tier 2 CCPs to request ESMA to assess the extent to which a CCP's compliance with EMIR requirements is satisfied by the CCP's compliance with the comparable requirements applicable in the third country.

ESMA consults on periodic reporting rules for trade repositories

Retrieved on: 
Tuesday, May 28, 2019

27 May 2019

Key Points: 
  • 27 May 2019

    Market Integrity

    Post Trading

    The European Securities and Markets Authority (ESMA) has published today guidelines setting out the information that should be periodically submitted by trade repositories (TRs) to ESMA.

  • Such reporting enables ESMA to conduct a consistent supervision of TRs by aligning content and format of reports to ESMAs supervision and its risk assessment processes.
  • Furthermore, the Guidelines specify certain aspects relating to the notification of material changes by TRs.
  • ESMA will consider the feedback it receives to the consultation with a view to finalising the proposed guidelines and publishing a final report in Q4 2019.

ESMA consults on indices and recognised exchanges under the Capital Requirements Regulation

Retrieved on: 
Saturday, May 25, 2019

24 May 2019

Key Points: 
  • 24 May 2019

    MiFID - Secondary Markets

    The European Securities and Markets Authority (ESMA) has today published a Consultation Paper proposing amendments to the main indices and recognised exchanges under the Capital Requirements Regulation (CRR).

  • ESMA considers it necessary to introduce amendments to the Implementing Technical Standard (ITS) to ensure that the most updated list of main indices and recognised exchanges is incorporated into the legislative text.
  • ITS 2016/1646 sets the criteria to identify the main indices and recognised exchanges for the purposes of the CRR.
  • ESMA, to identify the main indices, is proposing to use a new methodology that can be homogeneously applied to EU and non-EU indices.

ESMA launches call for evidence on position limits in commodity derivatives

Retrieved on: 
Saturday, May 25, 2019

The European Securities and Markets Authority (ESMA) has today launched a call for evidence on position limits and position management in commodity derivatives.

Key Points: 
  • The European Securities and Markets Authority (ESMA) has today launched a call for evidence on position limits and position management in commodity derivatives.
  • ESMA launches this call for evidence in the context of the reviews it must perform under MiFID II, together with the European Commission (EC), and is seeking stakeholders input to develop an informed view of the issues to be considered and addressed.
  • ESMAs call for evidence is seeking stakeholders input on the impact of position limits on liquidity, market abuse and orderly pricing and settlement conditions in commodity derivatives markets.
  • ESMA will consider the feedback in drafting its advice for its report to the EC on the impact of position limits and position management controls on commodity derivatives markets.

CALL FOR EVIDENCE ON POSITION LIMITS IN COMMODITY DERIVATIVES

Retrieved on: 
Saturday, May 25, 2019

The European Securities and Markets Authority (ESMA) has launched a call for evidence on position limits and position management in commodity derivatives.

Key Points: 
  • The European Securities and Markets Authority (ESMA) has launched a call for evidence on position limits and position management in commodity derivatives.
  • ESMA launches this call for evidence in the context of the reviews it must perform under MiFID II, together with the European Commission (EC), and is seeking stakeholders input to develop an informed view of the issues to be considered and addressed.