ESMA published its first three opinions on position limits regarding commodity derivatives under the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). The opinions of ESMA agree with the proposed position limits by the AMF regarding rapeseed, corn, and milling wheat.
The proposed position limits for rapeseed, corn, and milling wheat by the AMF are consistent with the objectives established in MiFID II and with the methodology developed for setting those limits. As of January 03, 2018 and MiFID II application, limits will apply to the net position a person can hold in commodity derivative contracts. National competent authorities have to set position limits for commodity derivatives and notify ESMA of the specific position limits they plan to introduce for liquid contracts. ESMA will continue to assess the notifications received and issue opinions to ensure that the position limits are set in accordance with the MiFID II framework.
Keywords: Europe, Securities, MiFID II, MiFIR, Position Limits, ESMA
Previous ArticleFED Proposes Revisions to FRY-9C/9LP/9SP, FR Y-7N, and FR2886b
MAS and Temasek jointly released a report to mark the successful conclusion of the fifth and final phase of Project Ubin, which focused on building a blockchain-based multi-currency payments network prototype.
EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.
APRA updated the lists of the Direct to APRA (D2A) validation rules for authorized deposit-taking institutions, insurers, and superannuation entities.
PRA updated the statement that provides guidance to regulated firms on implementation of the EBA guidelines on reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis.
EBA updated the 2019 list of closely correlated currencies that was originally published in December 2013.
FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).
APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.
BCBS and FSB published a report on supervisory issues associated with benchmark transition.
IAIS published a report on supervisory issues associated with benchmark transition from an insurance perspective.
ESMA updated the reporting manual on the European Single Electronic Format (ESEF).