The updated set of Q&A complements ESMA’s guidance on reporting under SFTR. The Q&As were updated to simplify reporting of SFTs when an external portfolio manager is used.
On the Official Journal of the European Union of 6 April 2021 has been published the Regulation (EU) 2021/557 amending Regulation (EU) 2017/2402 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation to help the recovery from the COVID-19 crisis.
The role that credit default swaps (CDSs) played in the global financial crisis and the lack of information on CDS exposures prompted a number of regulatory actions aimed at increasing transparency. In Europe, the European […]
The report highlights how the COVID-19 pandemic continues to weigh heavily on short-term recovery prospects. It also highlights a number of vulnerabilities in the financial markets and warns of possible further market corrections. In […]
The final report contains recommendations and possible legislative amendments to MiFID II/MiFIR with a view to simplifying the current reporting regimes whilst ensuring quality and usability of the reported data. It aims to achieve this through:
- The […]
ESMA has fined five entities in the Moody’s Group, a total of €3,703,000 and issued public notices for breaches of the Credit Ratings Agencies Regulation (CRAR) regarding independence and the avoidance of shareholder conflicts of interest.
All the breaches were found to have resulted from negligence on the part of Moody’s. The breaches related to:
ESMA has launched a consultation on potential reforms to the EU Money Market Funds Regulation (MMFR). The Authority aims to review the stress experienced by MMFs during the March 2020 crisis and assess the role played by markets, investors and regulation, and proposes potential reforms.
ESMA defines four types of potential reforms for MMFs:
- Reforms targeted […]
ESMA has published the results of the 2020 Common Supervisory Action (CSA) on UCITS liquidity risk management (LRM).
The CSA showed that the overall level of compliance with the applicable rules is satisfactory in most cases, but there is scope for improvement in liquidity management for some UCITS analysed. The exercise […]
The European Commission has provided answers to a series of EIOPA’ Questions & Answers regarding the legal interpretation of provisions of the Insurance Distribution Directive (Directive (EU) 2016/97) and its implementing measures.
The Questions & Answers concerned are:
- Appropriateness Assessment
- Product Oversight & Governance requirements
- Significant adaptation of an […]