On 8 October 2019, the European Securities and Markets Authority (ESMA) issued its final report on a set of draft regulatory technical standards (RTS) on co-operation arrangements under the Market Abuse Regulation (MAR).
Article 26 of MAR mandates ESMA to develop draft RTS containing a template document for cooperation arrangements that are to be used by Member State national competent authorities (NCAs) where possible for cooperation with the supervisory authorities of third countries.
ESMA was required to submit the draft RTS to the European Commission (Commission) by 3 July 2015, however this date was deferred due to the entry into force of the General Data Protection Regulation and its impact on the transfer of personal data between NCAs and their counterparts in third countries.
In this instance, ESMA has not conducted a public consultation, instead opting for a targeted consultation with NCAs. ESMA explains that a public consultation would be disproportionate in relation to the scope and impact of these draft RTS.
The full text of the draft RTS can be found in Annex II of the report.
ESMA has submitted the draft RTS to the Commission for endorsement.