ESMA and ACER update Memorandum of Understanding to strengthen cooperation

The European Securities and Markets Authority (ESMA) and the EU Agency for the Cooperation of Energy Regulators (ACER) have signed an updated Memorandum of Understanding (MoU) that strengthens collaboration between the two institutions, particularly in new cooperation areas under the market correction mechanism (MCM) Regulation and benchmarks related to the energy sector. The MoU also outlines the role of the recently established ACER–ESMA Task Force.
The cooperation will primarily be achieved through on-going consultations, exchange of information and cross-participation in joint meetings of working groups and task forces. The main areas covered by the MoU include a coordinated and consistent approach to market abuse framework, technical cooperation on data and knowledge with respect to the functioning of energy and energy derivative markets, and LNG price assessments and benchmarks administered by ACER and other energy-related benchmarks relevant for ESMA’s or ACER’s mandates.