Thursday 20 July 2017 12:30

The European Securities and Markets Authority (ESMA) has established a Memorandum of Understanding (MoU) with the Securities and Exchange Board of India (SEBI) under the European Markets Infrastructure Regulation (EMIR). 

The MoU establishes cooperation arrangements, including the exchange of information, regarding Central Counterparties (CCPs) which are established and authorised or recognised in India, and which have applied for EU recognition under EMIR. 

EMIR provides for...

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Thursday 20 July 2017 12:01

The Joint Board of Appeal of the European Supervisory Authorities (ESAs – European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority) published today its decision in an appeal brought by FinancialCraft Analytics Sp. z o.o. (formerly named Global Rating Sp. z o.o.) against a decision of the European Securities and Markets Authority (ESMA).

The Board of Appeal unanimously dismissed the appeal and confirmed ESMA’s decision of 8 December 2016 refusing FinancialCraft Analytics Sp. z o.o.’s registration as a credit rating agency.

In accordance with Article 61 of the ESMA Regulation, FinancialCraft Analytics Sp. z o.o. has two...

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Tuesday 18 July 2017 16:07

The European Securities and Markets Authority (ESMA) has published the results of a peer review conducted into how national competent authorities (NCAs) supervise financial information (IFRS) according to the Guidelines on Enforcement of Financial Information (Guidelines). The report identifies areas where NCAs can improve their enforcement and makes recommendations to support these improvements.

The peer review was carried out on the basis of a questionnaire to all NCAs, as well as on-site visits to seven jurisdictions: Germany, Italy, Malta, Norway, Portugal, Romania, and the UK.

The report identifies that further improvements are needed in relation to:

·  ...

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Tuesday 18 July 2017 15:06

The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) launched today a public consultation to amend the Implementing Regulations on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs) for credit risk to reflect the recognition of five new credit rating agencies (CRAs) and the deregistration of one CRA. The Implementing Regulations are part of the EU Single Rulebook for banking and insurance aimed at creating a safe and sound regulatory framework consistently applicable across the European Union (EU). The consultation runs until 18/09/2017.

The Implementing Regulations developed by the ESAs and adopted by the European Commission on 7 and 11 October 2016, aim at ensuring that only credit ratings issued by External Credit Assessment Institutions (ECAIs) – those credit rating agencies (CRAs) registered under Regulation (EC) No 1060/...