ESMA Starts Publishing Questions Received Through Q&A Process
ESMA has started publishing the list of questions received through its question and answer (Q&A) process. The questions are grouped by topic or legislative act—namely, including Corporate Disclosure, Credit Rating Agencies, Fund Management, MiFID and Investor Protection, MiFID/MiFIR and Secondary Markets, Market Abuse Regulation, Benchmarks Regulation, Short Selling Regulation, Post Trading, Innovation and Products, Prospectus Regulation, and Securitization Regulation. In case updates are required, ESMA will update the Q&A weekly.
This publication comes in the context of the entry into force of the revised ESMA regulation, which includes the new provisions applicable to Q&A. The new provisions require ESMA to setup a web-based tool to facilitate the submission of questions and to publish questions received, along with answers to the admissible questions. Q&As constitute a form of guidance on the acts within the remit of ESMA. As is the case with other forms of guidance, Q&As are adopted by the ESMA Board of Supervisors. Q&As are not legally binding, yet their application will be rigorously scrutinized by ESMA and national competent authorities, given their practical significance to achieve a level playing field. In the areas where ESMA is the direct supervisor of financial market participants, Q&As act to inform its approach.
ESMA is committed to implementing this web-based tool and is working on developing the necessary IT infrastructure. The roll-out of the IT infrastructure will be done on a phased basis and during the year. Pending the full implementation of this web-based tool, stakeholders can continue submitting questions to ESMA through the Q&A webpage of the ESMA website. ESMA has started publishing, in advance, on its website the following questions:
- Questions for which a Q&A will be put on the agenda of the relevant Standing Committee of ESMA
- Rejected questions—that is, questions that were tabled for discussions in an ESMA Standing Committee and to which ESMA does not intend to provide an answer
- Questions forwarded to EC
Related Links
Keywords: Europe, Banking, Securities, Q&A, Securitization Regulation, Benchmark Regulation, Credit Rating Agencies, Big Data, Fintech, ESMA
Related Articles
OSFI Issues Phase2 Consultation on Climate Scenario Exercise for Banks
The Office of the Superintendent of Financial Institutions (OSFI) recently announced a consultation on the second phase of the Standardized Climate Scenario Exercise (SCSE) for banks and other financial institutions it regulates in Canada.
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
