BANKING

EBA issues revised list of ITS validation rules

The European Banking Authority (EBA) has published a revised list of validation rules in its Implementing Technical Standards (ITS) on supervisory reporting, highlighting those which have been deactivated either for incorrectness or for triggering IT problems.

Competent Authorities throughout the EU are informed that data submitted in accordance with these ITS should not be formally validated against the set of deactivated rules.

EBA, 9 June 2017

INVESTMENTS AND FUNDS

Official EU language translations of ESMA guidelines under CSDR

ESMA has published translations, in all official EU languages, of the following sets of guidelines under the Central Securities Depository Regulation (Regulation 909/2014) (CSDR):

National competent authorities (NCAs) to which these guidelines apply must, within two months, notify ESMA whether they comply or intend to comply with them. To comply, NCAs must incorporate the guidelines into their supervisory practices, and monitor CSDs' compliance with them.

ESMA, 9 June 2017

European Commission report on exemptions for third-country central banks and other entities from MiFIR pre- and post-trade transparency requirements

The European Commission has published a report to the European Parliament and the Council of the EU on exemptions for third-country central banks and other entities under the Markets in Financial Instruments Regulation (Regulation 600/2014) (MiFIR) (COM(2017) 298 final).

The report covers Australia, Brazil, Canada, Hong Kong SAR, India, Japan, Mexico, Singapore, the Republic of Korea, Switzerland, Turkey and the United States, with the Bank for International Settlements (BIS), which, according to Article 1(9) of MiFIR, is to be considered as a third-country central bank for the purpose of that provision.

The Commission has concluded that, in the light of their market and operational transparency frameworks, the jurisdictions covered have legal frameworks in place that allow for a sufficient level of transparency. In addition, the trading activity in the EU emanating from these jurisdictions is substantial enough to justify an extension of the exemption from MiFIR pre- and post-trade transparency requirements. EC, 9 June 2017