ESMA consultation published on MIFID II standards regarding trading suspensions, data service providers and derivatives reporting

The European Securities and Markets Authority (ESMA) has published a consultation paper (CP) on the remaining draft implementing technical standards (ITS) under MiFID II which they have not yet been consulted. The consultation runs until 31 October 2015.

ESMA, 31 August 2015

ESMA consultation published on review of EMIR standards relating to CCP client accounts

ESMA has published a consultation paper on the review of Article 26 of its Regulatory Technical Standards (RTS) (153/2013) under EMIR, which deals with central counterparties' (CCPs) client accounts. The consultation runs until 30 September 2015.

ESMA, 27 August 2015

ECB publishes ESCB report on the access of CCPs to central bank liquidity facilities under EMIR

The European Central Bank (ECB) has published a report by the European System of Central Banks (ESCB) on the need to facilitate the access of central counterparties to central bank liquidity facilities under the European Market Infrastructure Regulation (EMIR).

ECB, 25 August 2015

ESMA updates waivers from MiFID pre-trade transparency requirements

ESMA has published an updated version of the waiver document that sets out its assessment of applications for waivers from pre-trade transparency requirements under MiFID.

ESMA, 21 August 2015

Joint Committee of ESAs publishes second discussion paper responses on key information documents for PRIIPs

The Joint Committee of the European Supervisory Authorities (ESAs) has published the responses it has received in relation to its discussion paper on risk, performance scenarios and cost disclosures in key information documents for Packaged Retail and Insurance-based Investment Products (PRIIPs).

European Supervisory Authorities, 20 August 2015

Responses to Commission services consultation on EMIR implementation

The European Commission has published the responses it has received to its survey on participants' experience in implementing EMIR which includes a joint response from HM Treasury, the Bank of England (BoE) and the FCA.

European Commission, 14 August 2015

EACB publishes response to the EC public consultation on EMIR

The European Association of Co-Operative Banks (EACB) has published a response document to the public consultation on the review of EMIR, highlighting the difficulty for the EACB's smaller members in accessing CCPs, and arguing that other requirements have proven to be too costly and burdensome.

EACB, 13 August 2015

ESMA publishes four reports on how the EMIR framework has been functioning

ESMA has published four reports on how the EMIR framework has been functioning and how it has been providing input into the European Commission's EMIR review:

  • Review of the use of OTC derivatives by non-financial counterparties (ESMA/2015/1251)
  • Review of the efficiency of margining requirements to limit procyclicality (ESMA/2015/1252)
  • Review of the segregation and portability requirements (ESMA/2015/1253)
  • ESMA input as part of the Commission consultation on the EMIR review (ESMA/2015/1254)

ESMA, 13 August 2015

IOSCO final report issued on post-trade transparency in credit default swaps market

The International Organization of Securities Commissions (IOSCO) has published its final report on post-trade transparency in the credit default swaps market.

IOSCO, August 2015

FMLC letter to European Commission on draft RTS on risk mitigation techniques for OTC derivative contracts not cleared by CCP under EMIR released

The Financial Markets Law Committee (FMLC) has published a copy of a letter, sent to the European Commission, relating to the draft regulatory technical standards (RTS) on risk mitigation techniques for OTC derivative contracts not cleared by a central counterparty (CCP) under Article 11(15) of EMIR.

FMLC, 10 August 2015

FCA MiFID II implementation roundtable minutes published

The FCA has published the minutes of its MiFID II implementation roundtable, held on 17 July 2015 at the North Colonnade.

FCA, 10 August 2015

ESMA consultation responses on draft RTS on CSDR published

ESMA has published the responses it has received to its consultation on the operation of the buy-in process under the Regulation on improving securities settlement and regulating central securities depositories. ESMA, 7 August 2015

Provisional version of Delegated Regulation on IRS clearing under EMIR published

The European Commission has published a provisional version of a Delegated Regulation it has adopted that introduces a central clearing obligation for interest rate swaps under EMIR.

European Commission, 6 August 2015

ESMA Final Report: Technical advice under CSD Regulation

ESMA has published its final report containing technical advice to the European Commission on delegated acts required by the CSD Regulation on improving securities settlement and regulating central securities depositories. ESMA, 5 August 2015

EC reports on exercise of delegation of powers - UCITS IV and AIFMD

The European Commission has published the following two reports:

  • A report on the exercise of delegation of powers to the Commission to adopt implementing measures pursuant to Article 112a of the UCITS IV Directive (2009/65/EC).
  • A report on the exercise of delegation of powers to the Commission to adopt delegated acts pursuant to Article 56 of the Alternative Investment Fund Managers Directive (AIFMD) (2011/61/EU).

European Commission, August 2015