Events listed in [ESMA] European Securities and Markets Authority

[JC 2023 82 ] List of Financial Conglomerates 2023

ID 26470
The three European Supervisory Authorities (ESAs) have published a revised list of firms considered to be financial conglomerates with the head of the group situated in the EU or the EEA which are subsequently subject to the Financial Conglomerates Directive (FICOD). The list is based on the most recent annual financial statements provided by the groups and considers data up to October 30, 2023. ...

ESMA consults on possible changes to the securitisation disclosure templates

ID 26449
ESMA has initiated a consultation on potential changes to the securitisation disclosure templates. The revision involves the Disclosure RTS and ITS related to specific information and details of securitisation transactions. ESMA is seeking stakeholders‘ views on four proposed options for the securitisation disclosure framework: Option A: Putting the template review on hold until the revision of the Level 1 text. Option B: Expanding the ...

ESAs propose extending the EMIR equity option exemption

ID 26434
The ESAs have proposed a two-year extension to the equity option exemption from bilateral margining under EMIR. The current temporary exemption, set to expire on 4 January 2024, could be extended until 4 January 2026, according to joint draft RTS published by the ESAs. These RTS provide guidance to market participants on handling equity options from the expiration of the current temporary exemption. This ...

[ESMA84-2037069784-2106 ] Report on CRA Market Share Calculation 2023

ID 26412
In order to enhance market competition among credit rating agencies (CRA) and to foster the use of smaller agencies for rating purposes, the European regulators developed Article 8d in the Credit Rating Agencies Regulation (CRAR). This article requires issuers or related third parties to „consider appointing at least one credit rating agency with no more than 10 % of the total market share“ in ...

ESMA updates the parameters and methodology for MMF stress testing

ID 26396
ESMA has released a Final Report on Guidelines on stress test scenarios under the MMF Regulation. The update includes changes in methodology to simulate hypothetical liquidity changes in MMF portfolios and an annual calibration of risk parameters. The adjustments are based on stakeholder feedback and introduce parameters reflecting liquidity stress in the money market and a new risk factor representing the additional cost of ...

ESMA presents methodology for climate risk stress testing and analysis of the ...

ID 26395
ESMA has published two articles addressing critical aspects of sustainable finance. The first article outlines a methodology for dynamically modeling the impact of climate-related shocks on the investment fund sector. It focuses on asset price shocks, investor flows, and portfolio rebalancing, aiming to assess the overall direction and sequencing of these effects. The dynamic modeling is a part of ESMA’s mandate from the EC ...

Technical standards / LMT combinations under the revised ELTIF regulation

ID 26394
ESMA finalises technical standards under the revised ELTIF regulation ESMA has finalized the draft RTS for the ELTIF regulation. The draft covers various aspects, including the compatibility of ELTIF life cycles with individual asset life cycles, features of the redemption policy, use of matching mechanisms, and costs disclosure. ESMA considered feedback from 23 stakeholders in its consultation (eventid=21373), leading to proposed amendments.In terms of ...

[ESMA24-229244789-4623 ] SMSG Advice on second MiCA package

ID 26343
The SMSG provided advice to ESMA on the second consultation paper regarding Technical Standards for MiCA, covering various aspects of the MiCA Regulation. Proportionality was emphasized, with the SMSG supporting the approach to business continuity measures that consider the scale, nature, and range of crypto-asset services. They recommended incorporating proportionality in other aspects of MiCA to prevent barriers to small players without compromising safety ...

[ESMA12-2121844265-3173 ] Final report on Guidelines on position calculation under ...

ID 26332
ESMA published its Final report on Guidelines on position calculation under EMIR. This report presents proposed updates to the existing ESMA Guidelines on position calculation under EMIR Refit standards. The primary objective of these guidelines is to offer clarity regarding position calculations, scope of data, and methodologies in the context of the new EMIR Refit standards. The guidelines that will come into effect from ...

ESMA consults on potential changes to the CSDR penalty mechanism

ID 26326
ESMA has initiated a consultation on potential modifications to the penalty mechanism outlined in the CSDR. The CSDR, established in 2014, aims to enhance securities settlement in the EU and regulate central securities depositories. Settlement fails, where transactions are not completed as intended, are addressed through reporting requirements, cash penalties, and mandatory buy-ins under the CSDR. ESMA’s consultation, open until 29 February 2024, seeks ...
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