ESMA publishes acquisitions standards: ESMA has submitted to the Commission draft Regulatory and Implementing Technical Standards relating to acquisitions of investment firms under the Markets in Financial Instruments Directive (MiFID). MiFID requires Member States to make publicly available the information necessary to carry out the assessment of a proposed acquirer of an investment firm, and requires ESMA to draft standards that:
- set out an exhaustive list of relevant information; and
- recommend standard forms, templates and procedures for the cooperation and exchange of information between the relevant authorities.
The Commission has three months from 1 January to decide whether to endorse the standards. (Source: ESMA Publishes Acquisitions Standards)