On 14 January 2025, the Financial Stability Board (FSB) issued a report on The Relevance of Transition Plans for Financial Stability.
Background
The report looks at the role that financial and non-financial firms’ transition plans can play for financial stability assessments, in particular as a source of information for monitoring climate-related financial
This Friday (17 January) the EU Digital Operational Resilience Act, DORA, comes into force and, unusual for EU legislation, there are no transitional provisions meaning the legislation comes into effect immediately.
The European Securities and Markets Authority has already warned that financial entities should identify and address gaps between their internal set ups and DORA’s
Introduction
2025 will mark a fresh start in the EU as the new European Commission (Commission), which has been in place since 1 December 2024, will begin its work. Although the new Commission’s work programme for 2025 will not be published until 11 February 2025, there are a number of new initiatives within
On 3 January 2024, the European Securities and Markets Authority (ESMA) announced that it was launching the first selection procedure for the Consolidated Tape Provider (CTP) for bonds. Those entities that are interested in applying should register and submit their request to participate in the selection procedure by 7 February 2025.
On 19 December 2024, the European Securities and Markets Authority (ESMA) issued the 2024 edition of its Market Share Report of credit rating agencies (CRAs). The Market Share Report provides a list of registered CRAs indicating total market share for each.
Article 8d(1) of the CRA Regulation provides that where issuers
On 19 December 2024, the European Securities and Markets Authority (ESMA) issued a consultation paper on guidelines on internal controls for benchmark administrators (BAs), credit rating agencies (CRAs) and market transparency infrastructures.
ESMA directly supervises all EU CRAs, securitisation repositories and trade repositories as well as certain BAs and
On 18 December 2024, the European Securities and Markets Authority (ESMA) issued a consultation paper setting out proposed regulatory technical standards (RTS) establishing an EU code of conduct for issuer-sponsored research by the EU Listing Act Directive.
Background
Article 1(2)(a) of the EU Listing Act Directive introduces new paragraphs 3a to
On 16 December 2024, the European Securities and Markets Authority (ESMA) issued a final report regarding its mandates under the MiFIR Review on bond trade transparency and reasonable commercial basis (RCB).
Background
The MiFIR Review (Regulation (EU) 2024/7913) sought to improve pre- and post-trade transparency and introduced two new articles, Article
On 16 December 2024, the European Securities and Markets Authority (ESMA) issued a final report setting out proposed amendments to certain technical rules concerning commodity derivatives, as mandated by the adopted amendments to the Markets in Financial Instruments Directive II (revised MiFID II).
Background
Directive (EU) 2014/790 amends MIFID II and
On 16 December 2024, the European Securities and Markets Authority (ESMA) issued a Feedback Statement regarding the criteria to assess consolidated tape provider (CTP) applicants.
In the Feedback Statement ESMA summarises the input received on its initial reflections on the specification of the assessment criteria for the CTP selection procedures, as