These measures concern turbos which are high-risk leveraged products with which investors speculate that the prices of the underlying asset, such as a share, an index or a currency, will rise or fall. ESMA’s opinion concludes that the proposed measures are justified and proportionate.
On the Official Journal of the European Union of 9 June 2021 has been published the Commission Delegated Regulation (EU) 2021/923 supplementing Directive 2013/36/EU (CRD IV) with regard to regulatory technical standards setting out the criteria to define managerial responsibility, control functions, material business units and a significant impact on a material business unit’s risk profile, and setting out criteria for identifying staff members or categories of staff whose professional activities have an impact on the institution’s risk profile that is comparably as material as that of staff members or categories of staff referred to in Article 92(3) of that Directive.
The Regulation aims at ensuring the proper functioning of the internal market and providing an adequate level of security of electronic identification means and trust services. For these purposes, this Regulation establishes:
(a) the conditions under which Member States shall provide and recognise electronic identification means of natural and legal persons, falling under a notified electronic identification scheme of another Member State;
(b) rules for trust services, in particular for electronic transactions;
(c) a legal framework for electronic signatures, electronic seals, electronic time stamps, electronic documents, electronic registered delivery services, certificate services for website authentication, electronic archiving and electronic attestation of attributes, the management of remote electronic signature and seal creation devices, and electronic ledgers;
(d) the conditions for the issuing of European Digital Identity Wallets by Member States.
(only in Italian)
Il Commissario Consob Paolo Ciocca è intervenuto in audizione presso la VI Commissione permanente (Finanze) della Camera dei Deputati in merito all’esame sul c.d. “Pacchetto sulla finanza digitale”, proposto dalla Commissione europea lo scorso 24 settembre 2020.
L’intervento si è soffermato sull’analisi delle principali novità proposte dalla Commissione, ed in particolare:
- il MiCAR, che introduce una disciplina specifica del mercato dei crypto-asset diversi dagli strumenti finanziari;
- il Regolamento Pilot, che permetterà alle Autorità nazionali di testare lo svolgimento delle funzioni di trading e post-trading su un’unica piattaforma di negoziazione, per avviare la nascita di un mercato secondario degli strumenti finanziari in forma di token;
- il DORA sulla cyber security, con l’obiettivo di innalzare gli standard di sicurezza cibernetica del mercato finanziario in tutta l’Unione. Le proposte vanno inquadrate nella più ampia Digital Financial Strategy.
