ESMA Newsletter - Nº19
Welcome to the 19th edition of ESMA's newsletter.
Before the Christmas holidays, or even during them, you may want to check out our key publications related to Brexit and ESG including the recognition of EUI as third-country CSD, the Derivatives Trading Obligation (DTO) and the ESEF XBRL Taxonomy files. We have also, launched a call for expression of interest for our Financial Innovation Standing Committee's CWG and our Chair, Steven Maijoor, delivered an important keynote speech on sustainability reporting at the French Ministry of the Economy, Finance and Recovery .
Take a look at our December newsletter to find out more about our latest activities and don't forget to follow our Twitter and LinkedIn accounts to stay up to date with our full range of activities.
SAVE THE DATE – ESMA 10 YEAR ANNIVERSARY CONFERENCE – 23 March 2021
- Mairead McGuinness, European Commissioner for Financial Stability, Financial Services and the Capital Markets Union;
- Andrea Enria, Chair of the Supervisory Board, European Central Bank;
- Irene Tinagli, Chair of the Committee on Economic and Monetary Affairs, European Parliament;
- Sven Giegold, Member of the European Parliament;
- Anneli Tuominen, Vice Chair of the European Securities and Markets Authority and Director General of the Finnish Financial Supervisory Authority;
- Robert Ophele, Chairman, Autorité des Marchés Financiers;
- Guillaume Prache, Managing Director, The European Federation of Investors and Financial Services Users;
- Veerle Colaert, Chair of the Securities and Markets Stakeholder Group;
- David Wright, Chair of Eurofi;
- Thomas Book, Member of the Executive Board, Deutsche Börse;
- Alexander Schindler, Member of the Executive Board, Union Investment;
- Niamh Moloney, Professor of Law, London School of Economics; and
- John Rega, Editor, Financial Services Politico.
The event is scheduled to take place between 1500 and 1900 on the afternoon of 23 March 2021.
Further details will follow.
ESMA announced on 11 December that Euroclear UK & Ireland Limited (EUI), the central securities depository (CSD) established in the United Kingdom (UK), will be recognised as a third-country CSD (TC-CSD) after the end of the UK’s transition from the European Union (EU) on 31 December 2020.
Read HERE for further information.
The EU trading obligation for derivatives (DTO) will continue applying without changes after the end of UK's transition from the EU on 31 December 2020.
On 25 November 2020, ESMA issued a final statement clarifying the application of the EU DTO following the end of the transition period.
ESMA considers that EU counterparties can meet their obligations under the DTO by trading on EU trading venues or eligible trading venues in third countries, and this situation is primarily a consequence of the way the UK has chosen to implement the DTO and Brexit.
Check the Brexit page for further updates.
Steven Maijoor, Chair of ESMA, on 8 December delivered a keynote speech at the webinar “A new standard for a new capitalism: accelerating corporate responsibility through non-financial information” organised by the French Ministry of the Economy, Finance and Recovery.
Read the full speech HERE
ESMA has published on 7 December the 2020 ESEF XBRL taxonomy files and an update to the ESEF Conformance Suite to facilitate implementation of the ESEF Regulation.
Check them out!
Speaking appearances by ESMA Staff in December
Vacancy Notices
| Traineeship notice - Transversal profile (F/M) | 31/12/2020 |
| Traineeship notice - Legal profile (F/M) | 31/12/2020 |
| Traineeship notice - Financial Markets Profile (F/M) | 31/12/2020 |
| Information Security Office (CA) | 13/01/2021 |
| Seconded National Experts (different profiles) | 1/01/2021 |
All open vacancies can be found on ESMA's recruitment portal
ESMA is looking for new candidates for the Consultative Working Group (CWG) of the Financial Innovation Standing Committee (FISC).
Interested stakeholders can apply by 31 January 2021, by submitting the application form and their CV.
Important consultations closing next month
- The full list of consultations and reply forms can be found on the ESMA consultations page
Missed any ESMA publications? Check out the full list of news items on our website.
- Most recent publications
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22 December ESMA ISSUES 2020 REPORT ON ACCEPTED MARKET PRACTICES UNDER MAR |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today published its annual report on the application of accepted market practices (AMPs) in accordance with the Market Abuse Regulation (MAR). |
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22 December |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today updated its Questions and Answers on the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR). |
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21 December |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today updated its Questions and Answers on OTC requirements and reporting issues under the European Markets Infrastructure Regulation (EMIR). |
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21 December ESMA SEES SIGNIFICANT INCREASE IN EU MARKET ABUSE SANCTIONS TO €88 MILLION IN 2019 |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today published its annual report on administrative and criminal sanctions, as well as other administrative measures, issued under the Market Abuse Regulation (MAR) in 2019. The Report shows that National Competent Authorities (NCAs) and other authorities imposed a total of €88 million in fines related to 339 administrative and criminal actions under MAR. |
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18 December ESMA REGISTERS DTCC DATA REPOSITORY (IRELAND) PLC AS TRADE REPOSITORY UNDER EMIR AND SFTR |
The European Securities and Markets Authority (ESMA), the EU supervisor of trade repositories (TRs), has registered today DTCC Data Repository (Ireland) PLC as a TR under the European Market Infrastructure Regulation (EMIR) and the Securities Financing Transactions Regulation (SFTR), with effect from 23 December 2020. |
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18 December |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today launched a consultation seeking input from market participants on the impact of requirements under MiFID II/MiFIR regarding algorithmic trading, including high-frequency algorithmic trading. |
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18 December |
The European Securities and Markets Authority (ESMA), the EU’s securities markets authority, has today published the final report on its guidelines on outsourcing to cloud service providers (CSPs). |
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17 December |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today published a Final Report on technical standards (RTS and ITS) under the EMIR REFIT Regulation. The report covers data reporting to Trade Repositories (TRs), procedures to reconcile and validate the data, access by the relevant authorities to data and registration of the TRs. |
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17 December ESMA RECOMMENDS MORE TIME TO IMPLEMENT A MIX OF SOLUTIONS FOR PSAS TO CLEAR |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published today a second report on the clearing solutions for Pension Scheme Arrangements (PSAs) under the European Market Infrastructure Regulation (EMIR). |
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17 December ESMA PUBLISHES FINAL GUIDANCE TO ADDRESS LEVERAGE RISK IN THE AIF SECTOR |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today published its final guidance to address leverage risks in the Alternative Investment Fund (AIF) sector. |
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17 December ESMA RENEWS ITS DECISION REQUIRING NET SHORT POSITION HOLDERS TO REPORT POSITIONS OF 0.1% AND ABOVE |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has renewed its decision to temporarily require the holders of net short positions in shares traded on a European Union (EU) regulated market, to notify the relevant national competent authority (NCA) if the position reaches, exceeds or falls below 0.1% of the issued share capital. The measure applies from 19 December 2020 for a period of three months. |
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17 December ESMA APPOINTS NEW CHAIR OF ITS SUPERVISORY CONVERGENCE STANDING COMMITTEE |
The Board of Supervisors of the European Securities and Markets Authority (ESMA) has appointed Mr Jos Heuvelman, who is a Member of Executive Board of the Autoriteit Financiële Markten (AFM) of the Netherlands, to serve as the chair of the Supervisory Convergence Standing Committee (SCSC) and as chair of the Senior Supervisors Forum. |
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16 December |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has appointed two new members to its Management Board to replace outgoing members, whose term has ended, and reappointed one current member. The appointments took place at the Board of Supervisors meeting in Paris today, 16 December. |
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16 December ESMA SUPPORTS IFRS FOUNDATION’S EFFORTS ON INTERNATIONAL STANDARDISATION IN SUSTAINABILITY REPORTING |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today published its response to the IFRS Foundation’s consultation on sustainability reporting. ESMA recommends establishing high-quality international standards while also catering for the needs of jurisdictions that are at different stages in their sustainability efforts. |
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16 December ESMA UPDATES GUIDELINES ON STRESS TESTS FOR MONEY MARKET FUNDS |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, is publishing the 2020 update of guidelines on MMF stress tests under the Money Market Funds Regulation (MMFR). The updates take account of MMFs recent experience during March 2020, particularly in relation to redemption scenarios. |
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16 December ESMA REMINDS USERS OF SCHEDULED IT OPERATIONS AT THE END OF THE BREXIT TRANSITION PERIOD |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, today publishes a reminder of the operations planned on its databases and systems at the end of the Brexit transition period on 31 December 2020. |
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16 December KROLL BOND RATING AGENCY LLC’s CERTIFICATION STATUS WITHDRAWN |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has withdrawn Kroll Bond Rating Agency LLC’s (Kroll LLC) ability to certify its credit ratings for use in the European Union (EU). |
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14 December ESMA is seeking experts in financial innovation for its consultative group |
The European Securities and Markets Authority (ESMA), the EU securities markets regulator, is looking for new candidatesfor the Consultative Working Group (CWG) of the Financial Innovation Standing Committee (FISC). |
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14 December ESMA REPORTS ON ANNUAL MARKET SHARE OF CREDIT RATING AGENCIES |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published its annual market share calculation for EU registered credit rating agencies (CRAs). |
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11 December ESMA TO RECOGNISE EUROCLEAR UK & IRELAND LIMITED (EUI) AFTER BREXIT TRANSITION PERIOD |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has announced that Euroclear UK & Ireland Limited (EUI), the central securities depository (CSD) established in the United Kingdom (UK), will be recognised as a third-country CSD (TC-CSD) after the end of the UK’s transition from the European Union (EU) on 31 December 2020. |
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8 December STEVEN MAIJOOR DELIVERS KEYOTE ABOUT PARADOXES OF SUSTAINABILITY REPORTING |
Steven Maijoor, Chair of the European Securities and Markets Authority (ESMA), has delivered a keynote speech at the webinar “A new standard for a new capitalism: accelerating corporate responsibility through non-financial information” organised by the French Ministry of the Economy, Finance and Recovery |
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7 December |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has updated its public register with the latest set of double volume cap (DVC) data under the Markets in Financial Instruments Directive (MiFID II). |
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7 December ESMA PUBLISHES 2020 ESEF XBRL TAXONOMY FILES AND ESEF CONFORMANCE SUITE |
The European Securities and Markets Authority (ESMA), the EU securities markets regulator, has published the 2020 ESEF XBRL taxonomy files and an update to the ESEF Conformance Suite to facilitate implementation of the ESEF Regulation. |
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7 December |
The Joint Committee of the European Supervisory Authorities (ESAs) – ESMA, EBA and EIOPA – wish to highlight the impact in the change of status of ‘Simple, Transparent and Standardised’ (STS) securitisation transactions after the end of the Transition Period on 31 December 2020. |
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04 December ESMA updates reporting under the Money Market Funds Regulation |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has updated its validation rules regarding the Money Market Fund Regulation (MMFR). This relates to the requirements of Article 37 of MMFR that require MMF managers to submit data to National Competent Authorities, who will then transmit this to ESMA. |
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26 November |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has withdrawn the credit rating agency (CRA) registration of INC Rating Sp. z o.o. |
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26 November ESMA publishes shortlist of candidates for position of Chair |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published the shortlist of qualified candidates for the position of Chair, which it has sent to the Council of the European Union (Council) and the European Parliament (Parliament). The Council will appoint the Chair following confirmation by the Parliament. |