ESMA publishes AIFMD guidelines compliance table: ESMA has published a table stating that all Member States except Slovenia comply with ESMA's guidelines on the model Memorandum of Understanding relating to supervision of entities under the Alternative Investment Fund Managers Directive (AIFMD). Slovenia has not yet implemented the AIFMD. (Source: ESMA Publishes AIFMD Guidelines Compliance Table)

ESMA updates EMIR Q&A: The latest additions and clarifications to the European Market Infrastructure Regulation (EMIR) Q&As relate exclusively to reporting issues such as:

  • reporting of collateral and the collateralisation field;
  • reporting mark-to-market valuations;
  • reporting contracts with no maturity date; 
  • the notional amount field; 
  • reporting of OTC derivatives novations; and 
  • backloaded reporting, which will have to be made at position level or central counterparty (CCP) level, as appropriate.

(Source: EMIR Q&As)

ESMA finalises CRA 3 standards: ESMA has submitted to the Commission the final draft regulatory technical standards under the Credit Ratings Agencies Regulation (CRA 3), which cover the following topics:

  • transparency of structured finance instruments;
  • the new European Rating Platform; and
  • the periodic reporting of fees charged by credit rating agencies.

Regarding structured finance disclosures, the proposed standards are based on existing BoE and ECB requirements. ESMA already provides some standardised disclosure templates, but it has also introduced a phase-in period for developing further templates. In the same way, ESMA has still to decide to what extent the proposed standardised templates can be used for private and bilateral structured finance. (Source: CRA 3 Standards)

T2S Advisory Group replies on CSDR: standards: The T2S Advisory Group has responded to ESMA's consultation on regulatory technical standards under the Central Securities Depositories Regulation (CSDR). (Source: T2S Task Force on CSDR Level 2 Standards)