General Information & Client Service
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
July 12, 2018

ESMA updated question and answer (Q&A) documents on the European Markets Infrastructure Regulation (EMIR), temporary product intervention measures of ESMA in relation to contracts for differences (CFDs) and binary options, and the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/MiFIR).

The updates include the following:

  • Q&A on EMIR— The updates cover amendments to the existing General Q&A on identification of counterparties to a derivative, also confirming that a portfolio manager could be a counterparty to a derivative when entering into a derivative on its own account and own behalf. It also includes amendments to the existing trade repositories Q&A on Legal Entity Identifier (LEI), which simplify the description of the existing process. The amendments also explain other processes trade repositories should follow in scenarios where the reports must be updated in relation to the LEI. A new case for reporting derivatives has also been added to the Part IV of the Q&A, which explains the procedure for reporting to trade repositories in a transaction scenario involving portfolio management companies.
  • Q&A on product intervention measures—ESMA updated Q&A on temporary product intervention measures of ESMA on the marketing, distribution or sale of CFDs and binary options to retail clients based on Article 40 of MiFIR. The Q&A provides clarification on the application of the temporary product intervention measures on clients established outside the Union and non-Union nationals.
  • Q&A on MiFID/MiFIR—The updates include new Q&As on the topics of inducements (research) and provision of investment services by thir- country firms. The overall MiFID II Q&A provide clarifications on topics such as best execution, suitability and appropriateness, post-sale reporting, record keeping, and investment advice on an independent basis.

The Q&A mechanism is a practical convergence tool used to promote common supervisory approaches and practices. It is intended to help investors and other market participants by providing clarity on the regulatory requirements.

Related Links

Keywords: Europe, EU, Securities, EMIR, MiFID/MiFIR, Product Intervention Measures, Q&A, Investor Protection, ESMA

Related Insights

EBA Finalizes Guidelines on the STS Criteria in Securitization

EBA published the final guidelines that provide a harmonized interpretation of the criteria for a securitization to be eligible as simple, transparent, and standardized (STS) on a cross-sectoral basis throughout EU.

December 12, 2018 WebPage Regulatory News

OSFI Sets Domestic Stability Buffer for D-SIBs at 1.75%

OSFI set the level for the Domestic Stability Buffer at 1.75% of total risk-weighted assets, as calculated under the Capital Adequacy Requirements (CAR) Guideline.

December 12, 2018 WebPage Regulatory News

FSI Publishes Paper on Proportionality in Insurance Solvency Rules

FSI published a paper on proportionality in the application of insurance solvency requirements.

December 11, 2018 WebPage Regulatory News

BCBS Updates Framework for Pillar 3 Disclosure Requirements

BCBS published the updated framework for Pillar 3 disclosure requirements.

December 11, 2018 WebPage Regulatory News

EBA Issues Revised List of Validation Rules for Reporting

EBA revised the list of validation rules in its implementing technical standards on supervisory reporting.

December 11, 2018 WebPage Regulatory News

IMF Reports Assess the Stability of Financial System in Brazil

IMF published a report on the results of the Financial System Stability Assessment (FSSA) on Brazil.

December 11, 2018 WebPage Regulatory News

FED Governor Examines Pros of Imposing Capital Buffers on Large Banks

At the Peterson Institute for International Economics in Washington D.C., the FED Governor Lael Brainard summarized the financial stability outlook, highlighted areas where financial imbalances seem to be building, and touched on the related policy implications.

December 07, 2018 WebPage Regulatory News

US Agencies Propose Rule on Appraisals for Real Estate Transactions

US Agencies (FDIC, FED, and OCC) proposed a rule to increase the threshold level at or below which appraisals would not be required for the residential real estate transactions from USD 250,000 to USD 400,000. Comments will be accepted for 60 days from publication in the Federal Register.

December 07, 2018 WebPage Regulatory News

EBA Single Rulebook Q&A: First Update for December 2018

This week one answer was published as part of the Single Rulebook Questions and Answers (Q&A).

December 07, 2018 WebPage Regulatory News

FED Updates Reporting Form and Instructions for FR Y-14Q

FED published the updated reporting form FR Y-14Q for Capital Assessment and Stress Testing, along with the associated instructions.

December 06, 2018 WebPage Regulatory News
RESULTS 1 - 10 OF 2325