(Only in Italian)
- MTA, MIV (Mercato degli investment vehicles) e MOT: integrazione della disciplina in tema di distribuzione sul mercato;
- MTA, MIV e MOT: disciplina del flottante con riferimento a (i) patrimonio destinato, (ii) fine tuning in materia di computo del flottante per azioni o quote di FIA laddove l’ammissione abbia ad oggetto più classi di quote o azioni di un FIA;
- MTA, MIV e MOT: quotazione di Spac (Special purpose acquisition company) che effettuano più acquisizioni di società;
- MTA, MIV e MOT: fine tuning alla disciplina degli emittenti ammessi presso il segmento Star;
- tutti i mercati: fine tuning alla disciplina della gestione errori; esclusione degli operatori sospesi.
(Only in Italian)
Con questo provvedimento si apportano le modifiche al testo del paragrafo 3.1 della Sezione VI (“Servizi di pagamento”) delle Disposizioni in materia di “Trasparenza delle operazioni e dei servizi bancari e finanziari. Correttezza delle relazioni tra intermediari e clienti”, adottate dalla Banca d’Italia con provvedimento del 29 luglio 2009 e successivamente modificate.
L’intervento dà attuazione all’articolo 106 della direttiva 2015/2366/UE (Payment Services Directive, c.d. PSD2), nella parte in cui prevede che i prestatori di servizi di pagamento mettano a disposizione in modo facilmente accessibile nei rispettivi siti web e su supporto cartaceo l’opuscolo della Commissione europea illustrativo dei diritti dei consumatori nell’ambito dei sistemi di pagamento nell’Unione Europea.
Published in the Official Journal of the European Union the Commission Implementing Regulation (EU) 2021/1122 of July 8, 2021 amending Implementing Regulation (EU) 2016/1368 by adding the Norwegian Interbank Offered Rate and removing the London Interbank Offered Rate from the list of critical benchmark indices used in financial markets established pursuant to Regulation (EU) 2016/1011 of the European Parliament and of the European Council.
The Consultation Paper examines the state of the transition away from EONIA and LIBOR, which will cease to exist, and onto alternative risk-free rates, such as €STR, SONIA and SOFR, in the OTC interest rate derivatives market.
The overall aim of this consultation is to amend the scope of both the CO and the DTO to accompany the benchmark transition for OTC derivatives.
ESMA is seeking stakeholder feedback on the proposed changes to the scope of these obligations and will use the input to assess what changes to the RTS should be introduced to accompany the benchmarks transition.
ESMA expects to submit the final report to the Commission in autumn 2021.
The Consultation Paper focuses on technical issues and addresses topics that do not require a prior change of MiFID II/MiFIR. The review includes:
- providing more clarity on non-price forming transactions and the reporting of such transactions which will help obtain a better picture of the actual split between lit and over-the-counter (OTC) trading;
- a recalibration of the regime for commodity derivatives ensuring better tailored transparency requirements for this class of derivatives);
- providing further clarity on the reporting fields for post-trade transparency and the reporting of reference data with the overall objective of improving the quality of post-trade transparency data;
- providing clarification on the pre-trade transparency requirements for new types of trading systems, i.e. frequent batch auctions and hybrid systems; and
- increasing the pre- and post-trade large in scale thresholds for the trading of Exchange Traded Funds (ETFs) to achieve a more meaningful level of transparency in the ETF market.
The consultation will end on October 1, 2021.
The breaches relate to:
- granting certain asset managers access to data that they were not entitled to receive;
- setting up its IT system in a way which altered the substance of certain information reported to DDRL; and
- failing to provide regulators with direct and immediate access to relevant data.
