Featured Product

    ESMA Updates Q&As on EMIR and MiFID/MiFIR

    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 Articles
    News

    EC Adopts Financial Reporting Changes Arising from Benchmark Reforms

    EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.

    January 14, 2021 WebPage Regulatory News
    News

    BIS Bulletin Examines Key Elements of Policy Response to Cyber Risk

    BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.

    January 14, 2021 WebPage Regulatory News
    News

    HMT Updates List of Post-Brexit Equivalence Decisions in UK

    HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.

    January 14, 2021 WebPage Regulatory News
    News

    EBA Issues Erratum for Technical Package on Reporting Framework 3.0

    EBA published an erratum for technical package on phase 1 of the reporting framework 3.0.

    January 14, 2021 WebPage Regulatory News
    News

    APRA Publishes FAQ on Measurement of Credit Risk Weighted Assets

    APRA updated a frequently asked question (FAQ), for authorized deposit-taking institutions, on the measurement of credit risk weighted assets.

    January 14, 2021 WebPage Regulatory News
    News

    EBA Publishes Risk Dashboard for Third Quarter of 2020

    EBA published the quarterly risk dashboard, along with the results of the Risk Assessment Questionnaire survey among 60 banks and 15 market analysts.

    January 13, 2021 WebPage Regulatory News
    News

    ECB Analysis Shows Privacy as Biggest Concern in Use of Digital Euro

    ECB concluded the public consultation on the introduction of a digital euro in EU.

    January 13, 2021 WebPage Regulatory News
    News

    ECB Finalizes Guide on Supervisory Approach to Bank Consolidation

    ECB published a guide that sets out the supervisory approach to consolidation in the banking sector.

    January 12, 2021 WebPage Regulatory News
    News

    SRB Chair Outlines Work Priorities for 2021

    The SRB Chair Elke König published an article setting out work priorities for 2021.

    January 11, 2021 WebPage Regulatory News
    News

    FDIC Selects Companies to Compete in Final Phase of Tech Sprint

    FDIC has selected 11 technology companies—including BearingPoint, Fed Reporter, Inc, and S&P Global Market Intelligence, LLC—for inclusion in the third and final phase of the rapid prototyping competition.

    January 11, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6417