On 7 February 2025, the European Securities and Markets Authority (ESMA) issued consultation papers on the following:
In this latest episode of our podcast series, Split the Difference, Hannah Meakin, Floortje Nagelkerke, Anna Carrier, Lucy Dodson and Simon Lovegrove look ahead at some of the key regulatory topics impacting institutions in the markets space in both the UK and the EU during 2025.
The podcast is here.
We have published a new briefing note concerning the CRD VI – The new rules for cross-border banking business from third countries under CRD VI: What should non-EEA firms do now?
On 31 January 2025, the European Securities and Markets Authority (ESMA) issued a supervisory briefing on authorisation of crypto asset service providers (CASPs) under the Markets in Crypto Assets Regulation (MiCAR). The purpose of the supervisory briefing is for Member State competent authorities (NCAs) to achieve a
On 31 January 2025, the European Commission issued a press release stating that it had adopted a decision to extend the equivalence for UK central counterparties for a period of three years until 30 June 2028. The extension is designed to provide time for the implementation of the European Market Infrastructure Regulation 3. The decision
On 31 January 2025, the European Central Bank (ECB) issued FAQs on Initial Margin (IM) model approvals under the European Markets Infrastructure Regulation 3 (EMIR 3).
Among other things the FAQs deal with the following questions:
On 31 January 2025, the European Commission (Commission) published a letter (dated 21 January 2025) it had sent to the Chair of the Joint Committee of the European Supervisory Authorities (ESAs). The letter concerns the draft Delegated Regulation supplementing the Digital Operational Resilience Act (DORA) with regard to regulatory
On 29 January 2025, the European Securities and Markets Authority (ESMA) issued a speech by Klaus Löber, Chair of the ESMA CCP Supervisory Committee, entitled Shaping the future of EU capital markets.
In his speech Mr Löber touches on ESMA’s work on implementing the European Market Infrastructure Regulation 3.
Key points include:
On 28 January 2025, the European Securities and Markets Authority (ESMA) issued a Final Report which presents draft amendments to the regulatory technical standards (RTS) incorporated in Commission Delegated Regulation (EU) No 876/2013 on colleges for central counterparties.
The draft amendments concern only Member State competent authorities and do not impose
On 27 January 2025, the European Systemic Risk Board (ESRB) issued its response to the European Securities and Markets Authority’s earlier consultation on the conditions of the Active Account Requirement (AAR) following the review of the European Market Infrastructure Regulation (EMIR 3).
Among other things the ESRB believes that