On 30 March, ESMA updated its list of third-country central counterparties recognised to offer services and activities in the EU. CCPs in Dubai, India, Japan and the USA have been added.
On 3 April, ESMA updated its EMIR Q&A and validation rules. The Q&As include an updated question regarding the obligation to report outstanding trades following the entry into force of EMIR (“backloading”).
The validation rules update the content requirements for information following the publication of the revised technical standards on reporting under Article 9 of EMIR.
AIFMD and UCITS - ESMA Publishes Updated Q&A
On 6 April, EMSA publishes updated AIFMD and UCITS Q&As.
Both Q&A’s include one new question and answer each on:
AIFMD: cross-border marketing of EU AIFs by EU AIFMs under Article 32 of the AIFMD, clarifying that the AIF marketing passport may only be used for marketing to professional investors as defined in the AIFMD; and
UCITS: cross-border activities by UCITS management companies, clarifying that a UCITS management company can notify cross-border activities without having to identify a specific UCITS
MiFID II - ESMA Publishes Q&A on Data Reporting, Investor Protection and Market Structures
On 3 April, ESMA published updated Q&As on MiFIR data reporting regarding senior bonds, inflation Indexed bonds, the transaction reporting obligation and national client identifiers for natural persons
On 4 April, ESMA published updated Q&As on MiFID II and MiFIR investor protection topics.
The following topics are addressed:
Post sale reporting;
Information on charges and costs; and
Underwriting and placement of a financial instrument.
On 5 April, ESMA published updated Q&As on market structure issues under MiFID II.
ESMA’s Q&As provide clarity on the type of arrangements that qualify as an Organised Trading Facility and the key characteristics of a Systematic Internaliser. Further Q&A were published on commodity derivatives and transparency issues.