EC published consultation on building a proportionate regulatory environment to support small and medium enterprise (SME) listing. The consultation intends to identify the areas in which the administrative burden on listed SMEs can be lightened and areas in which targeted regulatory changes could help (re)build the local ecosystems surrounding SME-dedicated exchanges. The consultation is open till February 26, 2018.
SME financing through public markets has not fully recovered since the financial crisis, although listing on stock exchanges can give a significant boost to this type of businesses. This includes the listing of shares and bonds on SME Growth Markets, which is a new category of trading venues dedicated to small issuers. Facilitating access to finance for SMEs through all their development stages is a key element of the Capital Markets Union initiative of EC. The Capital Markets Union Mid-term Review published in June 2017 raised the project's level of ambition and strengthened its focus on capital-raising by SMEs on public markets. EC committed to assessing whether targeted amendments to EU rules could deliver a more conducive regulatory environment to support SME initial public offerings. The consultation will help the EC identify ways to cut red tape and build a supportive environment for SMEs wanting to list their shares or bonds on SME Growth Markets, without jeopardizing investor protection and market integrity.
Related Link: Consultation
Keywords: Europe, EU, Securities, MiFID II, SME Listing, Proportionality, Capital Markets Union, EC
Previous ArticleAPRA Letter on Its Approach to AASB 16 and AASB 17 for Insurers
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).