On 10 July 2020, the European Securities and Markets (ESMA) updated its opinion on ancillary activity calculations. The opinion provides the estimation of the market size of commodity derivatives and emission allowances for 2019.
Determining market size figures is challenging for national competent authorities (NCAs) and market participants since there is
On 10 July 2020, the European Securities and Markets Authority (ESMA) published a final report on the guidelines on securitisation repository data completeness and consistency thresholds. The guidelines provide clarity for market participants and securitisation repositories (SRs) on the accepted levels of No-Data (ND) Options contained in the securitisation
On 9 July 2020, the European Securities and Markets Authority updated its reporting manual on the European single electronic format (ESEF). The update expands existing guidance and reflects developments in the technical specifications.
The ESEF reporting manual is aimed at all market participants involved in the implementation of the requirements set out in
On 9 July 2020, the European Central Bank (ECB) issued a blog stating that banks must prepare for the end of the transition period.
At the start of the blog the ECB warns banks that the relief measures that have been put in place to support the economy during the COVID-19 pandemic do
On 13 July 2020, the European Securities and Markets Authority (ESMA) published the results of its third stress test exercise regarding central counterparties (CCPs) in the EU. The exercise covered the resilience of 16 CCPs, including all authorised EU CCPs and the three UK CCPs. The stress test found that EU
On 13 July 2020, the Single Resolution Board (SRB) issued a press release stating that Bulgaria and Croatia will be joining the Single Resolution Mechanism (SRM), following the decisions by the European Central Bank (ECB) to establish close cooperation with the Bulgarian National Bank and the Croatian National Bank.
On 13 July 2020, the European Securities and Markets Authority (ESMA) published its second report on sanctions and measures imposed under MiFID II by Member State national competent authorities (NCAs). The report finds that overall, in 15 out of 30 EEA Member States, NCAs imposed a total of 371 sanctions and
On 13 July 2020, the FCA updated its web page concerning enhancements to its Financial Services Register (the Register). The FCA will be replacing its existing Register with an enhanced Register on 27 July 2020. Details of the improvements made to the Register will be provided when the enhanced Register launches. The FCA will
On 13 July 2020, the PRA issued Consultation Paper 7/20 ‘Strengthening Accountability: SM&CR Forms update’ (CP7/20). In CP7/20 the PRA proposes minor amendments to the PRA Rulebook, the Notifications Form and the Senior Manager & Certification Regime (SM&CR) Form L. The proposals would result in changes to the Notifications Part of
On 13 July 2020, the European Commission published a notice to stakeholders on the effects of the end of the transition period after which the UK’s relationship with the EU will fundamentally change. The notice is aimed at EU (re)insurance companies and insurance distributors.
The Commission advises firms to assess the consequences of the end