Tag Archives: ESMA

SFC seeks new power to provide assistance to overseas regulators on supervisory matters

On 19 December 2014, the Securities and Futures Commission (the “SFC”) launched a consultation on proposed amendments to the Securities and Futures Ordinance (the “SFO”), relating to supervisory assistance to overseas regulators. 

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Filed under EU, Europe, Hong Kong

The new EU market abuse and inside information regime – an overview

The new Market Abuse Regulation has been published in the Official Journal and is directly applicable in EU countries from 3 July 2016.  The Regulation will have a significant impact on all companies with securities traded on any EU market … Continue reading

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Filed under Europe, European Regulation, France, Germany, Insurance, Investment banking, Investment Funds, Italy, Spain

European Commission asks ESMA for technical advice on MAR implementing acts

The European Commission has published a request to ESMA for technical advice on implementing acts relating to the Market Abuse Regulation (MAR). The implementing acts are required to specify the procedures to enable reporting of actual or potential infringements of MAR … Continue reading

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Filed under Banking, EU, Europe, European Regulation, Insurance, Investment banking, Investment Funds, Retail Banks

EU: MiFID Review – phase two begins

The European Securities and Markets Authority (ESMA) is consulting on the implementation of the revised Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).  MiFID II and MiFIR are expected to come into application by end 2016/early 2017, and will apply across … Continue reading

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Filed under Asset management, Banking, Client Money, EU, Europe, European Regulation, Retail Banks

ESMA preparatory work on the Market Abuse Regulation: time to engage with the development of regulatory technical standards

ESMA has published a Discussion Paper (“DP”) as part of its preparatory work on the forthcoming Market Abuse Regulation (“MAR”).  ESMA has asked for responses by 27 January 2014.  The DP raises 113 specific questions overall, covering the ten sections … Continue reading

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Filed under EU, European Regulation, France, Germany, Italy, Spain

EU: ESMA begins detailing central clearing of OTC derivatives

The European Securities and Markets Authority (ESMA) has launched a Discussion Paper as a first step towards preparation for the regulatory technical standards (RTS) to implement provisions of the European Markets Infrastructure Regulation (EMIR) regarding the obligation to centrally clear … Continue reading

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Filed under EU, European Regulation, France, Italy, Spain, UK

Period for objection to EMIR Delegated Regulations extended

The European Parliament and the Council of the European Union have been granted a one month extension to scrutinise the European Commission Delegated Regulations under the regulation on OTC derivatives, central counterparties and trade repositories (European Markets Infrastructure Regulation (EMIR)).      

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Filed under EU, Europe, European Regulation

Market manipulation: the curious case of Mr Hobbs

In something of a reverse for the FSA, last month the Upper Tribunal directed that no action should be taken against Mr Hobbs, a trader whose conduct the FSA had decided was market abuse (manipulation) under s 118(5) of FSMA, and whom the … Continue reading

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Filed under European Regulation, FSA, UK

EMIR: The race towards EU regulation of OTC derivatives, central counterparties and trade repositories is on

The race towards a pan-European “Regulation of the European Parliament and of the Council on OTC Derivatives, Central Counterparties and Trade Repositories” is on.  Last week ESMA held its first public hearing on the matter, and no less than three separate discussion … Continue reading

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Filed under Europe, European Regulation, JURISDICTIONS, Regulatory Reform

The New Pan-European Regime for Short Selling and Credit Default Swaps: ESMA Consultation Paper on Draft Technical Standards

On 24 January 2012 the European Securities and Markets Authority (ESMA) issued its first consultation paper on draft regulatory and implementing technical standards in connection with the proposed “Regulation of the European Parliament and of the Council on Short Selling … Continue reading

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Filed under Europe, European Regulation, JURISDICTIONS