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ESMA Newsletter - Nº8

07 October 2019

Our eighth edition of ESMA's newsletter is here. In this issue, we have a look at our third video tutorial on ESEF regulation which has recently been published, we catch up on publications from September and we highlight where ESMA staff will be speaking this month. Also, don't forget that last week the Board of Supervisors met, so stay with us for more updates as we look ahead to a busy October​. 

 

esma_monthly_newsletter_October

 

 

Month ahead

 

Important consultations closing this month

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ESMA Board of Supervisors meeting on 2 October 2019

  • ESMA's Board of Supervisors has met this week in Helsinki. Stay tuned to ESMA's website and social media accounts for publications and updates. 

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Speakers

Keynote speeches 

Date ESMA Speaker  Event  Read more
25 September  Steven MAIJOOR 2nd Roundtable on Euro Risk Free Rates​- Frankfurt  Read the full speech 

 

Speaking appearances by ESMA staff this month 

  • The full list of ESMA's planned speaking appearances for September can be found here

Speaking Appereances_October

 

Got Questions on the ESEF Regulation?

We answer to the ten most common questions in our third video tutorial on the European Single Electronic Format.

Check it out here!

 

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@ESMA

Vacancy Notices 

Open vacancies & deadlines 

Traineeship notice – Transversal profile (F/M)  31/12/2019 
Traineeship notice – Legal profile (F/M)  31/12/2019 
Traineeship notice - Financial Markets Profile (F/M)  31/12/2019

All open vacancies can be found on ESMA's recruitment portal 

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press office

Missed any ESMA publications? Check out the full list of news items from our press office. 

  • Publication period:  5 September - 4 October 2019   

04 October

ESMA consults on MiFIR alignment following the introduction of EMIR Refit

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today launched a consultation on possible amendments to the trading obligation under MiFIR following the introduction of EMIR Refit.

04 October

ESMA Opinion clarifies application of pre-trade transparency and price determination in frequent batch auctions

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published an opinion on frequent batch auctions (FBAs) and the double volume cap mechanism. ESMA’s Opinion reflects the conclusions of its Final Report on Periodic Auctions (June 2019) which identified several shortcomings of FBA systems in the area of pre-trade transparency and the price determination. 

04 October

Steven Maijoor delivers keynote speech at AFME's Legal and Compliance Conference

Steven Maijoor, Chair of the European Securities and Markets Authority (ESMA), has delivered the keynote speech at today's session of AFME's Legal and Compliance Conference in Paris.

03 October

ESMA consults on the commercial terms for providing client clearing services under EMIR

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published a consultation paper (CP) on draft technical advice to the European Commission (EC) on specifying the conditions under which commercial terms are to be considered fair, reasonable, non-discriminatory and transparent (FRANDT) where clearing service providers offer clearing services to clients.

03 October

ESMA consults on the commercial terms for providing client clearing services under EMIR

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published a consultation paper (CP) on draft technical advice to the European Commission (EC) on specifying the conditions under which commercial terms are to be considered fair, reasonable, non-discriminatory and transparent (FRANDT) where clearing service providers offer clearing services to clients.

03 October

ESMA publishes updates its Q&As on investor protection issues

The European Securities and Markets Authority (ESMA) has updated its Questions and Answers on the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).

03 October 

ESMA consults on MAR review

The European Securities and Markets Authority (ESMA) has published a consultation paperon the provisions of the Market Abuse Regulation (MAR) as requested by the European Commission.

02 October 

ESMA updates MiFID II Q&As on transparency and market structures issues

The European Securities and Markets Authority (ESMA) has updated its Questions and Answers (Q&As) regarding transparencyand market structures issues under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).

02 October

ESMA updates its CSDR Q&As

The European Securities and Markets Authority (ESMA) has updated its Questions and Answers (Q&As) regarding the implementation of the Central Securities Depository Regulation (CSDR).

02 October

ESMA updates EMIR Q&A

The European Securities and Markets Authority (ESMA) has issued an update of its Q&Aon practical questions regarding data reporting issues, stemming from the European Markets Infrastructure Regulation (EMIR).

01 October 

ESMA prepares for new responsibilities in 2020

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published its 2020 Work Programme (WP), setting out its priorities and areas of focus for the next 12 months in support of its mission to enhance investor protection and promote stable and orderly financial markets.

01 October 

ESMA publishes translations for Prospectus Guidelines on risk factors

The European Securities and Markets Authority (ESMA) has issued the official translationsof its Guidelines on risk factors under the Prospectus Regulation.

30 September 

ESMA launches call for evidence on the effects of product intervention measures

The European Securities and Markets Authority (ESMA) has launched a call for evidenceon the effects of product intervention measures regarding contracts for differences (CFDs) and binary options on market participants and clients.

27 September 

ESMA study finds high impact of costs on performance, especially for active equity funds

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has carried out a study of the performance of active equity funds as compared to passive equity funds, ETFs and relevant benchmarks.

25  September

Steven Maijoor - introductory remarks to the 2nd Roundtable on Euro Risk Free Rates

Steven Maijoor, Chair of the European Securities and Markets Authority (ESMA), has delivered the opening remarks at the second roundtable on euro risk free rates at the European Central Bank in Frankfurt.

24 September 

ESMA RESPONDS TO EUROPEAN COMMISSION ON ANNUAL REVIEW OF RTS 2

The European Securities and Markets Authority (ESMA) has responded to the European Commission (EC) regarding the Annual Review of RTS 2. RTS 2 requires ESMA to submit annual reports to the EC assessing the operation of some transparency thresholds for bonds and derivatives.

24 September 

ESMA AGREES POSITION LIMITS UNDER MIFID II

The European Securities and Markets Authority (ESMA) has published two opinions on position limits regarding commodity derivatives under the Markets in Financial Instruments Directive and Regulation (MiFID II/MIFIR).

24 September  

ESMA publishes study on the exposure of the EU fund industry to CLOs​

Following the significant pickup in the issuance of leveraged loans and collateralised loan obligations (CLOs) in the US and EU, supervisors have expressed concerns about the potential risk to investors.

24 September  

ESMA updates its financial instrument reference database

The European Securities and Markets Authority (ESMA) released a new version of its Financial Instrument Reference Database (FIRDS) on 23 September 2019.

23 September  

ESMA publishes updated results of the annual transparency calculations for equity and equity-like instruments

The European Securities and Markets Authority (ESMA) had made available updated results of the annual transparency calculations for equity and equity-like instruments.

19 September

ESMA issues opinion on accepted market practice by Spanish CNMV

The European Securities and Markets Authority (ESMA) has issued  an opinion supporting a revised Accepted Market Practice on liquidity contracts notified by the Spanish market regulator, the Comisión Nacional del Mercado de Valores (CNMV).

12 September

EU financial regulators highlight risks of a no-deal Brexit and search for yield

The European Union's (EU) banking, insurance, pensions and securities sectors continue to face a range of risks, the latest report on "Risks and Vulnerabilities in the EU Financial System" published  by the Joint Committee of the European Supervisory Authorities (ESAs) shows.

11 September

ESMA publishes responses to its Call for evidence on certain investor protection topics

ESMA publishes responses to its Call for evidence on impact of the inducements and costs and charges disclosure requirements under MiFID II.

11 September

ESMA publishes responses to its Consultation on cost of market data and consolidated tape

ESMA publishes responses to its Consultation on MiFID II/MiFIR review report on the development in prices for pre- and post-trade data and on the consolidated tape for equity instruments.

10 September

ESMA – Investors face increasing risks amid renewed market volatility

The European Securities and Markets Authority (ESMA), the EU’s securities regulator, has published the second Trends, Risks and Vulnerabilities (TRV) report for 2019.  The report identifies a deteriorating outlook for the asset management industry and continued very high market risk.  Recent trade tensions have triggered renewed volatility, and concerns over a no-deal Brexit remain key risk drivers for the second half of 2019.

06 September 

MIFID II: ESMA ISSUES LATEST DOUBLE VOLUME CAP DATA

The European Securities and Markets Authority (ESMA) has updated its public register with the latest set of double volume cap (DVC) data under the Markets in Financial Instruments Directive (MiFID II). Updates include DVC data and calculations for the period 1 August 2018 to 31 July 2019 as well as updates to already published DVC periods.

05 September

ESMA published responses to survey on short-termism in the financial sector

The European Securities and MarketsAuthority (ESMA) has published the responsesit received to its call for evidence on potential short-term pressures on corporations stemming from the financial sector. Considering the impact of short-termism forms part of ESMA’s work on sustainable finance and relates to the European Commission’s Action Plan on ‘Financing Sustainable

05 September 

ESMA publishes stress simulation framework for investment funds

The European Securities and Markets Authority (ESMA), the EU’s securities markets’ regulator, has developed a framework to be used for stress simulations for the investment fund sector. The method developed by ESMA is presented in detail in its Economic Report published today, and is accompanied by a case study where it is applied to 6,000 UCITS bond funds.

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