Featured Product

    EC Rule on Submitting Information on MiFID II Sanctions and Measures

    June 23, 2017

    EC published the regulation laying down implementing technical standards on procedures and forms for submitting information on sanctions and measures, in accordance with Markets in Financial Instruments Directive II (or MiFID II; Directive 2014/65/EU). This Commission Implementing Regulation (EU) 2017/1111 was published in the Official Journal of the European Union.

    It is appropriate to set out common procedures and forms for competent authorities to submit information to ESMA on sanctions and measures referred to in Article 71 of MiFID II. As per the regulation, to facilitate communication between competent authorities and ESMA and to avoid unnecessary delays or failed submissions, each competent authority should designate a contact point for communication on sanctions and measures. To ensure that all required information concerning sanctions and measures imposed by competent authorities is correctly identified and registered by ESMA, competent authorities should provide detailed and harmonized information using specific forms to that purpose. With a view to including meaningful information in the annual report on sanctions and measures to be published by ESMA in accordance with Article 71 of MiFID II, competent authorities should report the information by using specific forms clearly indicating the provisions of MiFID II, as transposed in their national legislation, that were infringed.
     

    To ensure consistency and smooth functioning of the financial markets, it is necessary that the provisions laid down in this Regulation and the related national provisions transposing MiFID II apply from the same date. This Regulation is based on the draft implementing technical standards submitted by ESMA to the EC. This Regulation shall enter into force on the twentieth day following that of its publication in theOfficial Journal of the European Union. It shall apply from January 03, 2018.
     
    Related Link: Regulation (EU) 2017/1111

    Effective Date: July 13, 2017

    Keywords: Europe, EC, ESMA, Banking, MiFID II, Reporting, Implementing Technical Standards

    Featured Experts
    Related Articles
    News

    FASB Proposes Taxonomy Changes Related to Topics 848 and 470

    FASB proposed taxonomy improvements for the proposed Accounting Standards Update on topic 848 on facilitation of effects of reference rate reform on financial reporting.

    September 16, 2019 WebPage Regulatory News
    News

    BoE Statement on Recalculating Transitional Measures Under Solvency II

    BoE notified that it will be willing to accept applications from firms to recalculate transitional measure on technical provisions (TMTP) as at September 30, 2019.

    September 16, 2019 WebPage Regulatory News
    News

    BoE Paper on Market-Implied Systemic Risk and Shadow Capital Adequacy

    BoE published a working paper that presents a forward-looking approach to measure systemic solvency risk.

    September 13, 2019 WebPage Regulatory News
    News

    HKMA Consults on Policy Module on Pillar 2 Supervisory Review Process

    HKMA is consulting on the revised Supervisory Policy Manual module CA-G-5 that sets out the HKMA approach to conducting the supervisory review process under Pillar 2.

    September 13, 2019 WebPage Regulatory News
    News

    PRA Publishes Waiver by Consent of Continuity of Access Rules

    PRA published a new waiver by consent to waive the Continuity of Access requirements contained in the Depositor Protection Part of the PRA Rulebook (DPP).

    September 13, 2019 WebPage Regulatory News
    News

    EBA Single Rulebook Q&A: Second Update for September 2019

    EBA updated the Single Rulebook question and answer (Q&A) tool with answers to three questions.

    September 13, 2019 WebPage Regulatory News
    News

    PRA Revises Branch Return and Updates Guidance for Regulatory Reports

    PRA published the policy statement PS17/19, which contains the final policy related to changes in the format and content of the Branch Return Form and reporting guidance.

    September 12, 2019 WebPage Regulatory News
    News

    ISDA Guide on Collateral Management Under Smart Derivatives Contracts

    ISDA published the third in a series of legal guidelines for smart derivatives contracts.

    September 12, 2019 WebPage Regulatory News
    News

    ESA Report Highlights Risks of No-Deal Brexit in EU Financial System

    ESAs published a Joint Committee report on risks and vulnerabilities in the EU financial system.

    September 12, 2019 WebPage Regulatory News
    News

    ECB Modifies New Targeted Longer-Term Refinancing Operations

    The Governing Council of ECB decided to modify some of the key parameters of the third series of targeted longer-term refinancing operations (TLTRO III) to preserve favorable bank lending conditions (Decision (EU) 2019/1558).

    September 12, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3819