ESMA publishes Annual Report 2015

The European Securities and Markets Authority (ESMA) has published its Annual Report 2015. The Annual Report is an important tool in providing accountability regarding ESMA’s delivery against its objectives and annual work programme.

In chapter 2 of the Annual Report ESMA describes its key achievements during 2015 and briefly outlines some of its key deliverables in 2016. Such deliverables include:

  • finalising the guidelines under the Market Abuse Regulation in relation to: (i) persons receiving market soundings; (ii) a non-exhaustive indicative list of information expected or required to be published in relation to commodity derivatives; and (iii) a non-exhaustive indicative list of legitimate interests for delays by issuers in the disclosure of inside information and of situations when omission is misleading;
  • carrying out a peer review of all national competent authorities (NCAs) for central counterparties (CCPs) focusing on the provisions of Articles 41 (margin requirements) and 46 (collateral requirements) of the European Market Infrastructure Regulation (EMIR) and its related regulatory technical standards (RTS). ESMA will also carry on its EU CCP college activity and validate significant model and parameter changes EU CCPs are planning to implement;
  • issuing opinions on the pension scheme exemption and to publish the list of exempted entities, as foreseen by EMIR;
  • continuing to monitor settlement fails on a bi-weekly basis and prepare for the mandatory reporting of settlement fails set out under the Central Securities Depositary Regulation (CSDR) which will depend on the entry into force of the CSDR’s technical standards on settlement discipline;
  • finalising its technical advice on the implementing measures for the Benchmarks Regulation in the second half of 2016; and
  • issuing a consolidated Q&A bringing together four other Q&A documents with a view to having a single set of material in relation to the UCITS framework.

View ESMA publishes Annual Report 2015, 15 June 2016