Featured Product

    ESMA Updates Q&A on Implementation of CSD Regulation and MAR

    November 12, 2018

    ESMA updated questions and answers (Q&A) documents on the implementation of the Central Securities Depository (CSD) Regulation and Market Abuse Regulation (MAR).

    The updated Q&As on CSD Regulation provide answers to questions regarding practical issues on the implementation of the new CSD Regulation regime. The latest batch of CSD Regulation Q&As covers the following topics:

    • Provision of services in another Member State: The updated Q&A document confirms that the program of operations to be provided by the CSD should cover both the core and ancillary services it intends to provide in the host member state. Where relevant, the CSD should provide an assessment of the measures it intends to take to allow its users to comply with the applicable law at least for each type of financial instruments for which it intends to provide the services.
    • Settlement Discipline—the new Q&As relate to the calculation of cash penalties as follows:
      • The first Q&A clarifies that the cash rate should be applied if the reason for the settlement fail is applicable to the leg of the transaction which delivers the cash, while the securities rate should be applied in case the reason for the fail is applicable to the leg of the transaction which delivers the securities
      • The second Q&A confirms that cash penalties should be applied in the case of settlement fails where the instructions are put on hold by the receiving participant
      • The final Q&A clarifies that the, more lenient penalty rates for SME growth market instruments should only apply if the particular trade has actually taken place on an SME growth market

    MAR is intended to guarantee the integrity of European financial markets and increase investor confidence. Any unlawful behavior in the financial markets is prohibited. The Q&A on MAR clarifies the scope of the trading restrictions for persons discharging managerial responsibilities under Article 19(11) of MAR.

     

    Related Links

    Keywords: Europe, EU, Securities, Q&A, CSD Regulation, MAR, ESMA

    Related Articles
    News

    BaFin Publishes Submission Deadlines Under Solvency II

    BaFin published quarterly and annual submission deadlines on the Solvency II reporting page on its website.

    February 25, 2020 WebPage Regulatory News
    News

    RBNZ to Address Cyber Risk Through Risk Management Guidance

    RBNZ announced that it is strengthening its efforts to enhance resilience of the financial system from cyber threats, including developing risk management guidance and promoting information-sharing in collaboration with industry and other public organizations.

    February 25, 2020 WebPage Regulatory News
    News

    FSI Convened Meeting on Climate Risk Assessment in Financial Sector

    The Financial Stability Institute (FSI) of BIS issued a summary of the meeting held in Basel from February 20-21, 2020.

    February 24, 2020 WebPage Regulatory News
    News

    BCBS Updates Basel III Monitoring Workbook in February 2020

    BCBS updated the workbook for Basel III monitoring to version 4.1.2, for the collection of December 2019 data.

    February 24, 2020 WebPage Regulatory News
    News

    Bank of Finland Updates Validation Checks for AnaCredit Reporting

    Bank of Finland published Version 1.8 of the validation checks for credit data collection under the AnaCredit Regulation.

    February 24, 2020 WebPage Regulatory News
    News

    APRA Plans to Assess Climate Risks and Develop Prudential Guidance

    APRA published a letter that outlines its plans to undertake a climate change vulnerability assessment and develop a prudential practice guide focused on climate-related financial risks.

    February 24, 2020 WebPage Regulatory News
    News

    FDIC Publishes Guide to Help with Third-Party Risk Management

    The technology lab of FDIC (FDiTech) published a new guide to help financial technology, or fintech, companies and others partner with banks.

    February 24, 2020 WebPage Regulatory News
    News

    PRA Removes References to LIBOR in SoP on Pillar 2 Capital and SS20/15

    PRA published a policy statement (PS3/20) that provides updates to certain supervisory statements (SS20/15, SS28/15, and SS35/15) and statements of policy (SoP).

    February 24, 2020 WebPage Regulatory News
    News

    APRA to Transition to Annual Stress Testing of Large Banks in 2020

    APRA published key findings of the stress testing assessment conducted on authorized deposit-taking institutions.

    February 21, 2020 WebPage Regulatory News
    News

    BoE Updates Version 1.1.0 of Taxonomy for Form AS and Form FV

    BoE published the statistical notice 2020/01 that provides an update to Version 1.1.0 of the taxonomy for forms AS (MFI holdings of securities collection) and FV (Financial Vehicle Corporations return) and the associated validation rules.

    February 21, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 4729