Financial Market Regulation

Central Securities Depositories Regulation (CSDR)

Updated on 06/04/2020

State-of-play: Published in the Official Journal. on 28 August 2014 (L 257/1)

State of play: on 28 August 2014, the Regulation was published in the Official Journal (L 257/1)

  • Link to ESMA Documents

Level 2

  • 15 December 2015, the EBA published its final report on draft RTS on prudential requirements for central securities depositories.
  • 1 February 2016, ESMA published its final report on RTS on settlement discipline under the CSDR.
  • 8 March 2019, ESMA published the responses received to the consultation on settlement fails reporting and to the consultation on standardised procedures and messaging protocols under CSDR.
  • 29 March 2019, the Commission adopted an implementing decision on prudential requirements for credit institutions and investment firms.
  • 5 February 2020, ESMA published a final report on draft RTS on postponing the date of entry into force of the Commission Delegated Regulation (EU) 2018/1229 to 1st February 2021, concerning RTS on settlement discipline under the CSD Regulation.

Level 3

  • 18 October 2018, ESMA published a guidelines compliance table on cooperation between authorities under Article 17 and 23 of CSDR.
  • 19 October 2018, ESMA published a guidelines compliance table on CSD access to the trading feeds of CCPs and trading venues under CSDR.
  • 22 October 2018, ESMA published guidelines compliance table on participant default rules and procedures under CSDR.
  • 30 April 2019, ESMA published the official translations for the CSDR guidelines on internalised settlement reporting.
  • 2 October 2019, ESMA updated the Q&A on the implementation of the CSDR.
  • 8 October 2019, ESMA published the final report on the guidelines on standardised procedures and messaging protocols.
  • 6 November 2019, ESMA issued an update of the central securities depositories register in accordance with Articles 21(3) and 58(2) of the CSD Regulation.
  • 3 December 2019, ESMA updated its Q&A regarding the implementation of the CSDR.
  • 9 January 2020, ESMA updated of the register of competent authorities operating under the CSDR.
  • 21 January 2020, ESMA published the list of competent authorities (CAs) designated by each Member State responsible for carrying out the duties under CSDR for the authorisation and supervision of CSDs established in its territory and inform ESMA thereof.
  • 17 February 2020, ESMA updated its Q&A regarding practical issues on the implementation of the new Central Securities Depositories (CSD) regime

 

Alternative Investment Fund Managers Directive (AIFMD)

Updated on 06/04/2020

State-of-play: Published in the Official Journal. on 8 June 2011 (L 174/1)

State of play: on 1 July 2011, the Directive was published in the Official Journal (L 174/1)

Level 2

  • 19 December 2012, the Commission adopted a delegated regulation with regard to exemptions, general operating conditions, depositaries, leverage, transparency and supervision.
  • 15 May 2013, the Commission adopted an implementing act establishing the procedure for AIFMs which choose to opt in under AIFMD and an implementing act establishing a procedure for determining the Member State of reference of a non-EU AIFM pursuant to AIFMD.

Level 3

  • 25 July 2018, ESMA responded to the questions raised by EIOPA on the interpretation of AIFMD.
  • 29 March 2019, ESMA updated the Q&A on the application of AIFMD.
  • 8 April 2019, ESMA published the responses to the consultation on liquidity stress test guidelines for investment funds.
  • 2 September 2019, ESMA published its final report with the guidelines on liquidity stress testing in UCITS and AIFs.
  • 28 November 2019, ESMA published a guidance compliance table on competent authorities complying or intending to comply with ESMA’s guidelines on reporting obligations.
  • 3 December 2019, ESMA updated its Q&A on the application of the AIFMD.
  • 20 February 2020, ESMA updated the list of EU authorities that have signed a Memorandum of Understanding on AIFMD with third countries.

Next steps

  • The Commission has started its review process of the AIFMD. A legislative proposal is expected in 2020.

Indices used as benchmarks (Benchmarks Regulation)

Updated on 06/04/2020

State-of-play: Entered into force. on 30 June 2016, it shall apply from 1 January 2018

State of play: on 29 June 2016, the Regulation was published in the Official Journal (L 171/1)

Level 1

Commission

  • 18 September 2013, the proposal was published.
  • 18 March 2020, the Commission launched a consultation on a roadmap for the review of EU rules for financial benchmarks.

Parliament

  • 31 March 2015, the ECON Committee adopted its report on the proposal.
  • 7 April 2016, the ECON Committee approved the agreed text from the trilogue negotiations.
  • 28 April 2016, the Parliament adopted the trilogue agreement in plenary. 

Council

  • 17 May 2016, the Council formally adopted the text.

Level 2

  • 29 September 2017, the Commission adopted a delegated regulation on the criteria to be applied for assessing whether certain events would result in significant and adverse impacts on market integrity, financial stability etc.
  • Acts on Benchmarks Regulation
  • 7 September 2018, ESMA updated its benchmarks register.
  • 16 July 2019, the EBA updated the ITS package for 2020 benchmarking exercise, on the basis of the responses to the consultation to amend the Regulation on benchmarking of internal models.
  • 11 October 2019, the Commission opened a public consultation on a report on the review of the Benchmark Regulation pursuant to Article 54.
  • 9 March 2020, ESMA launched a consultation on draft RTS under the Benchmarks Regulation (BMR) covering governance, methodology, infringements reporting, critical benchmarks

Level 3

  • 20 December 2018, ESMA published guidelines on non-significant benchmarks.
  • 19 June 2019, ESMA published the official translations of its guidelines on non-significant benchmarks.
  • 11 July 2019, ESMA updated the Q&A on the Benchmarks Regulation.
  • 11 December 2019, ESMA issued an update of its Q&A on the Benchmarks Regulation.
  • 13 December 2019, ESMA made available information on pending authorisation/registration applications by EU-based administrators under the Benchmarks Regulation.
  • 6 February 2020, EIOPA opened a consultation addressing for the first time the subject of the ongoing changes to the new benchmark rates (or IBOR transitions) following the Benchmarks Regulation.
  • 13 February 2020, ESMA published a table comprising national competent authorities that comply or intend to comply with ESMA’s guidelines on non-significant benchmarks under the Benchmarks Regulation.
  • 9 March 2020, ESMA published a list of competent authorities that comply or intend to comply with its guidelines on non-significant benchmarks.

 

EMIR I

Updated on 06/04/2020

State-of-play: Published in the Official Journal. on 27 July 2012 (L 201/1)

State of play: on 27 July 2012, the Regulation was published in the Official Journal (L 201/1)

Level 2

  • 6 September 2018, ESMA published the responses received to the consultation on the clearing obligation under EMIR.
  • 27 September 2018, ESMA published its final report amending RTS on the clearing obligation for intragroup transactions.
  • 18 December 2018, the ESAs published two joint draft RTS on risk mitigation techniques for OTC derivative contracts not cleared by a CCP and on margin requirements for non-centrally cleared OTC derivatives.
  • 19 December 2018, the Commission adopted a delegated regulation on the extension of the dates of deferred application of the clearing obligation for certain OTC derivative contracts.
  • 22 July 2019, ESMA published the annual peer review report on the overall supervision of CCPs by the NCAs.
  • 3 October 2019, ESMA issued a consultation on draft technical advice to the Commission on the commercial terms for providing client clearing services under EMIR.
  • 17 October 2019, ESMA published the results of a peer review on data quality reporting under EMIR of six NCAs.
  • 11 November 2019, ESMA published three sets of technical advice to the Commission regarding third-country central counterparties (TC-CCPs) under EMIR 2.2. They regard: tiering criteria under EMIR 2.2, fees to be charged to TC-CCPs, and comparable compliance.
  • 5 December  2019, the ESAs published joint draft Regulatory Technical Standards to amend the Delegated Regulation on the risk mitigation techniques for non-cleared OTC derivatives (bilateral margining) under EMIR.
  • 9 December 2019, ESMA published its second annual report regarding supervisory measures carried out and penalties imposed by NCAs under EMIR from January to December 2018.
  • 3 March 2020, ESMA published a report on C6 energy derivatives and related obligations under EMIR.

Level 3

 

Capital Markets Union (CMU) Action Plan

Updated on 06/04/2020

State-of-play: Legislative phase. Action Plan

State of play: legislative phase an preparation of review of the Action Plan

Level 1

Commission

  • 30 September 2015, the Commission published its Action Plan on “Building a CMU”.
  • 20 January 2017, the Commission launched a public consultation on the CMU mid-term review.
  • 8 June 2017, the Commission published the mid-term review report on the CMU.
  • The Commission published a number of proposals in the framework of this action plan, most have been adopted by the co-legislators.
  • 18 November 2019, the Commission announced the composition of the High Level Forum (HLF) on the Capital Markets Union (CMU). The HLF will start working on 26 November 2019.
  • 20 February 2020, the Commission published the interim report produced by the High-Level Forum on the Capital Markets Union.

Council

Next steps

  • Implementation of the updated Action Plan and issuance of a second CMU action plan in 2020. The final report of the High-Level Forum on Capital Markets Union is expected for May 2020. A CMU action plan is expected in Q2 2020.

Prospectus Regulation

Updated on 06/04/2020

State-of-play: Published in the Official Journal. L168/12 of 30 June 2017

State of play: on 30 June 2017, the Regulation was published in the Official Journal (L 168/12).

Level 1

Commission

  • 30 November 2015, the proposal for a regulation was published.

Trilogue negotiations

  • 7 December 2015, the Parliament and the Council reached a political agreement.
  • 5 April 2017, the Parliament adopted the agreed texts in plenary.
  • 16 May 2017, the Council formally adopted the proposal.

Level 2

  • 17 July 2018, ESMA published new RTS on the implementation of the Prospectus Regulation.
  • 8 February 2019, ESMA published a list of thresholds below which an offer of securities to the public does not need a prospectus in the EU Member States.

Level 3

  • 3 April 2018, ESMA published the first part of its technical advice under the Prospectus Regulation.
  • 30 October 2018, ESMA published the responses to the consultation on draft guidelines on risk factors and to the consultation on draft technical advice on minimum information content for prospectus exemption.
  • 29 March 2019, ESMA published the final guidelines on how NCAs should review risk factors, as required by the Prospectus Regulation.
  • 12 July 2019, ESMA updated Q&A on the Prospectus Regulation.
  • 12 July 2019, ESMA launched a consultation on draft guidelines on disclosure requirements under Prospectus.
  • 30 September 2019, ESMA published the official translations of its guidelines on risk factors under the Prospectus Regulation.
  • 28 October 2019, ESMA published the advice of the SMSG to the consultation paper on draft guidelines on disclosure requirements under the Prospectus Regulation.
  • 3 December 2019, ESMA updated its Q&A on the Prospectus Regulation.
  • 13 January 2020, ESMA published a compliance table with competent authorities complying or intending to comply with ESMA’s guidelines on risk factors under the Prospectus Regulation.
  • 18 February 2020, ESMA updated its Q&A on the Prospectus Regulation aiming to enhance common supervisory approaches and practices in the application of prospectus supervision.

MiFID and MiFIR

Updated on 06/04/2020

State-of-play: Published in the Official Journal. on 12 June 2014 (L 173/349 and L 173/84). The amended Directive (L 175/8) was published on 23 June 2016

State of play: on 12 June 2014, the Directive (L 173/349) and the Regulation (L 173/84) were published in the Official Journal

  • Link to ESMA MiFID/MiFIR Documents.

Level 1

Commission

  • 14 February 2020, the Commission opened a targeted consultation on possible reforms to the MiFID and MiFIR, the deadline to provide comments is 20 April. 
  • 17 February 2020, the Commission launched a public consultation on a roadmap for the review of MiFID and MiFIR.

Level 2

  • 14 March 2016, the Commission sent a letter to ESMA in order to ask amendments to the RTS.
  • 25 April 2016, the Commission adopted a delegated regulation establishing organisational requirements and operating conditions for investment firms and defined terms for the purposes of MiFID.
  • 18 May 2016, the Commission adopted a delegated regulation supplementing MiFIR as regards definitions, transparency, portfolio compression and supervisory measures on product intervention and positions.
  • 1 July 2016, ESMA submitted two amendments to the Commission in relation to the draft RTS on reporting obligations under Article 26 of MiFIR.
  • 19 July 2016, the Commission adopted a delegated regulation supplementing MiFID II with regard to regulatory technical standards specifying the organisational requirements of investment firms engaged in algorithmic trading.
  • 28 July 2016, the Commission adopted a delegated regulation supplementing MiFIR with regard to regulatory technical standards for the reporting of transactions to competent authorities.
  • 28 February 2017, ESMA published the final report on draft RTS on package orders.
  • 17 September 2017, the Commission adopted some draft rules on how investment firms and insurance distributors should take sustainability issues into account.
  • 28 November 2017, the Commission adopted a delegated regulation supplementing MiFIR on package orders.
  • 17 September 2018, ESMA published responses to its consultation on proposed amendments to the Commission Delegated Regulation (EU) 2017/588 (RTS11).
  • 13 November 2018, ESMA published an updated version of its supervisory briefing on MiFID II suitability requirements.
  • 14 December 2018, ESMA published the final report amending ticket size regime (MiFID II).
  • 19 December 2018, ESMA published the MiFID II list of supplementary deferral regimes.
  • 20 December 2018, ESMA updated the assessment of third-country trading venues for the purpose of post-trade transparency and position limits under MiFID II/MiFIR.
  • 22 January 2019, ESMA published an update on commodity derivatives transitional transparency calculation for MiFID II and MiFIR.
  • 30 January 2019, ESMA updated its action plan for systematic internaliser regime calculations and publications.
  • 1 February 2019, ESMA published new data for bonds liquidity on MiFID II.
  • 6 February 2019, ESMA published a MiFID II supervisory briefing on the supervision of non-EU branches of EU firms providing investment services and activities.
  • 25 February 2019, ESMA published the responses received to its consultation on integrating sustainability risks and factors in MiFID II.
  • 7 March 2019, ESMA released a statement on its approach to the application of some key MiFID II/MiFIR and Benchmark (BMR) provisions should the UK leave the EU without an agreement.
  • 7 March 2019, ESMA issued the latest double column cap data under MiFID II.
  • 14 March 2019, ESMA updated the interactive Single Rulebook which included all L2 and L3 measures related to the provisions of MiFID II and MiFIR.
  • 18 March 2019, ESMA published the results of the annual transparency calculation of the large in scale (LIS) and size specific to the instruments thresholds (SSTI) for bonds.
  • 2 April 2019, the Commission adopted an implementing decision on the equivalence of the legal and supervisory framework applicable to approved exchanges and recognised market operators in Singapore.
  • 4 April 2019, ESMA published the supervisory briefing on MiFID II appropriateness and execution-only.
  • 30 April 2019, ESMA agreed on five position limits under MiFID II.
  • 3 May 2019, ESMA published the final report on integrating sustainability risks and factors in MiFID II,
  • 3 June 2019, ESMA launched the common supervisory action with NCAs on MiFID II appropriateness rules.
  • 3 June 2019, ESMA published a supervisory briefing on pre-trade transparency requirements in commodity derivatives.
  • 12 July 2019, ESMA published the responses to the call for evidence on position limits in commodity derivatives.
  • 17 July 2019, ESMA published the report on sanctions and measures imposed under MiFID II in 2018.
  • 23 July 2019, ESMA updated the public register of derivatives to be trated on-venue under MiFIR.
  • 1 August 2019, ESMA updated the data for the systemic internaliser calculations for equity, equity-like instruments and bonds under MiFID II/MiFIR.
  • 1 August 2019, ESMA issued new data for bonds subject to the pre- and post-trade requirements of MiFID II/MiFIR.
  • 9 September 2019, ESMA updated its public register with the latest set of double volume cap (DVC) data under the MiFID II.
  • 11 September 2019, ESMA published the responses to the 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.
  • 12 September 2019, ESMA published the responses to the call for evidence on certain investor protection topics, related to the impact of the inducements and costs and charges disclosure requirements under MiFID II.
  • 18 September 2019, ESMA published the advice of the SMSG to the consultation on the development in prices for pre- and post- trade data and on the consolidated tape for equity instruments.
  • 23 September 2019, ESMA released the updated results of the annual transparency calculations for equity and equity-like instruments.
  • 24 September 2019, ESMA responded to the Commission regarding the first annual review of MiFIR RTS 2.
  • 9 October 2019, ESMA published its annual report on the application of waivers and deferrals under MiFIR.
  • 5 November 2019, ESMA launched a consultation on draft technical advice on the impact of position limits and position management and on weekly position reports under MiFID II.
  • 15 November 2019, ESMA published the responses and the advice of the SMSG to the call for evidence on the effects of product intervention measures regarding CFDS and binary options on market participants and clients under MiFID II.
  • 28 November 2019, ESMA published the responses it received to its consultation on aligning MiFIR requirements to the changes introduced by the revision of the European Market Infrastructure Regulation (EMIR Refit).
  • 5 December 2019, ESMA published a review report on the development of prices for market data and on the consolidated tape for equity under MiFID II.
  • 13 January 2020, ESMA published the responses received to its consultation on MiFID II review report on position limits and position management.
  • 29 January 2020, ESMA an updated list of national supervisory authorities (NSAs) for communication in the MiFID II framework on supervisory cooperation, authorisation, acquisitions and passporting.
  • 3 February 2020, ESMA updated the list of contact points of national supervisory authorities for communication in the MiFID II framework on supervisory cooperation, authorisation, acquisitions and passporting.
  • 3 February 2020, ESMA launched a consultation on the MiFIR pre-trade transparency regime for systematic internalisers (SI) active in non-equity instruments.
  • 4 February 2020, ESMA launched a consultation to review the MiFIR transparency regime for equity, ETFs and other related instruments, such as the double volume cap mechanism and the trading obligations for shares.
  • 4 February 2020, ESMA published its final report on product intervention requirements under MiFIR, as part of its review, and renewal process, of the temporary measures in relation to binary options and CFDs.
  • 5 February 2020, ESMA launched a common supervisory action (CSA) with national competent authorities (NCAs) on the application of MiFID II suitability rules across the EU.
  • 6 February 2020, ESMA published a statement to provide an update on the implementation of the supervisory briefing on pre-trade transparency in commodity derivatives under MiFIR.
  • 7 February 2020, ESMA published a final report suggesting amendments to the trading obligation under MiFIR following the introduction of EMIR Refit.
  • 6 March 2020, ESMA updated its public register with the latest set of double volume cap (DVC) data under MiFID II.
  • 10 March 2020, ESMA launched a consultation on reviewing the transparency regime for non-equity instruments and the trading obligation for derivatives under MiFIR.

Level 3

  • 6 August 2018, ESMA updated the transitional transparency calculations for MiFID II/MiFIR.On 21 September 2018, ESMA published an opinion on MiFID RTS 1 amendments.
  • 1 October 2018, ESMA sent a letter to the Commission on MiFID II and MiFIR third-country regimes.
  • 3 October 2018, ESMA announced a withdrawal of MiFID guidelines on systems and controls in an automated trading environment for trading platforms, investments firms and competent authorities.
  • 6 November 2018, ESMA published translated guidelines on MiFID II suitability requirements.
  • 21 December 2018, ESMA published amended guidelines on the application of C6 and C7 of Annex 1 of MiFID II.
  • 23 January 2019, ESMA published six opinions on positions limits regarding commodity derivatives under MiFID II/MIFIR.
  • 27 March 2019, ESMA updated the Q&A on MIFID II and MiFIR commodity derivatives topics.
  • 27 March 2019, ESMA wrote a letter to the Commission on MiFID II and MiFIR review reports.
  • 5 June 2019, ESMA published the official translations of its guidelines on the application of C6 and C7 of Annex 1 of MiFID II.
  • 20 June 2019, ESMA published three opinions on position limits regarding commodity derivatives under MiFID II/MIFIR.
  • 7 August 2019, ESMA published the guidelines compliance table comprising competent authorities that comply or intend to comply with ESMA’s guidelines on product governance.
  • 20 August 2019, ESMA published a list of contact points of national supervisory authorities for communication in the MiFID II framework on supervisory cooperation, authorisation, acquisitions and passporting.
  • 5 September 2019, ESMA published the compliance table for national competent authorities that comply or intend to comply with ESMA's Guidelines on the application of C6 and C7 of Annex I of MiFID II.
  • 24 September 2019, ESMA published two opinions on position limits regarding commodity derivatives under MiFID II/MIFIR.
  • 27 September 2019, ESMA published the guidelines on MiFID II product governance requirements. It contains the list of competent authorities that comply or intend to comply with ESMA guidelines on product governance.
  • 2 October 2019, ESMA updated the Q&As regarding transparency and market structures issues under MiFID II/MiFIR.
  • 3 October 2019, ESMA updated the Q&A on the implementation of investor protection and intermediaries topics under MiFID II / MiFIR.
  • 4 October 2019, ESMA published an opinion on frequent batch auctions (FBAs) and the double volume cap mechanism.
  • 7 October 2019, ESMA updated the Q&A on data reporting under MiFIR.
  • 6 November 2019, ESMA published the advice delivered by the Securities and Markets Stakeholder Group on the ESMA’s consultation paper on draft guidelines on certain aspects of the MiFID II compliance function.
  • 8 November 2019, ESMA updated its public register with the latest set of double volume cap (DVC) data and calculations under MiFID II.
  • 8 November 2019, ESMA made available new data for bonds subject to the pre- and post-trade requirements of the MiFID II and MiFIR through its data register.
  • 8 November 2019, ESMA published data for the systematic internaliser (SI) calculations for equity, equity-like instruments and bonds under the MiFID II and MiFIR.
  • 3 December 2019, ESMA updated its Q&A on the implementation of investor protection topics under MiFID II/MiFIR.
  • 6 December 2019, ESMA updated its Q&A on data reporting under MiFIR.
  • On 6 December 2019, ESMA updated its Q&A regarding market structures and transparency issues under MiFID II and MiFIR.
  • 20 December 2019, ESMA published a list of contact points of national supervisory authorities for communication in the MiFID II framework on supervisory cooperation, authorisation, acquisitions and passporting.
  • 9 January 2020, ESMA updated its public register with the latest set of double volume cap (DVC) data under MiFID II.
  • 7 February 2020, ESMA published seven opinions on position limits regarding commodity derivatives under MiFID II and MiFIR.
  • 7 February 2020, ESMA updated its public register with the latest set of double volume cap data under MiFID II.
  • 11 February 2020, ESMA published the guidelines compliance table comprising competent authorities that comply or intend to comply with ESMA’s guidelines on product governance.
  • 18 February 2020, ESMA updated its Q&A on the implementation of investor protection and intermediaries’ topics under MiFID II/MiFIR, including new answers on MiFID practices for firms selling financial instruments subject to the BRRD resolution regime.
  • 28 February 2020, ESMA made available the results of the annual transparency calculations for equity and equity-like instruments under MiFID II and MiFIR applicable from 1 April 2020.
  • 9 March 2020, ESMA published a list of competent authorities that have informed ESMA that they comply, do not comply or intend to comply with the ESMA’s guidelines on cross-selling practices under MiFIR.
  • 10 March 2020, ESMA published a list of competent authorities that have informed ESMA that they comply, do not comply or intend to comply with the ESMA’s guidelines on complex debt instruments and structured deposits under MiFID II.
  • 20 March 2020, ESMA published a statement to clarify issues regarding the application by firms of the MiFID II requirements on the recording of telephone conversations. (Covid-19).
  • 20 March 2020, ESMA published a statement to ensure that national competent authorities (NCAs) undertake coordinated supervisory actions on the application of the new tick-size regime for systematic internalisers under MiFIR and the Investment Firms Regulation (IFR). (Covid-19).

Securities Financing Transactions Regulation (SFTR)

Updated on 06/04/2020

State-of-play: Published in the Official Journal. on 23 December 2015 (L 337/1)

State of play: on 23 December 2015, the Regulation was published in the Official Journal (L 337/1).

Level 1

Commission

  • 29 January 2014, the proposal was published.

Parliament

  • 24 March 2015, the ECON Committee adopted its report and the negotiations mandate.
  • 16 July 2015, the ECON Committee approved the agreed text from trilogue negotiations.
  • 29 October 2015, the Parliament adopted the agreed text in plenary.

Council

  • 16 November 2015, the Council formally adopted the agreed text.

Level 2

  • 20 April 2017, ESMA published a final report on its technical advice to the Commission on fees to trade repositories (TRs) under SFTR and on certain amendments to fees to TRs under EMIR.
  • 12 November 2018, ESMA published a final report on its technical advice to the Commission on fees for securitisation repositories under the Securitisation Regulation.
  • 13 November 2018, ESMA published a set of items which provide standards and guidance for securitisation repositories under the Securitisation Regulation.
  • 13 December 2018, the Commission adopted a package of new measures under SFTR.
  • 31 July 2019, ESMA published the responses to the consultation on draft guidelines for the reporting under SFTR.
  • 31 October 2019, ESMA published further technical details for the reporting of Securities Financing Transactions (SFTs) as required under the SFT Regulation (SFTR). The publication includes validation rules applicable to SFTR reports as well as the XML schemas reporting entities should use.
  • 20 December 2019, ESMA published updated ISO 20022 XML Schemas to be used for reporting under the SFTR.
  • 20 December 2019, ESMA updated the reporting instructions and XML schema for the templates set out in the technical standards on disclosure requirements.

Level 3

  • 19 October 2017, the Commission published a report to the Council outlining the impact on the SFTR.
  • 5 September 2018, ESMA published an opinion in response to the Commission’s proposed amendments of technical standards on reporting under SFTR.
  • 20 June 2019, ESMA held an open hearing on its consultation paper on guidelines for reporting under articles 4 and 12 of the SFTR.
  • 6 January 2020, ESMA published a series of documents on Securities Financing Transactions Regulation: a reportguidelines on reporting under the SFTR, amended SFTR validation rules and a statement on Legal Entity Identifiers (LEI).
  • 17 January 2020, ESMA launched a consultation on guidelines on securitisation repository data completeness and consistency thresholds.
  • 19 March 2020, ESMA published a statement to ensure coordinated supervisory actions on the application of Securities Finance Transactions Regulation (SFTR), in particular, on the requirements regarding the reporting start date, as well as the registration of Trade Repositories (TRs). (Covid-19).

Market Abuse Regulation (MAR)

Updated on 06/04/2020

State-of-play: Published in the Official Journal. on 12 June 2014 (L 173/1)

State of play: on 12 June 2014, the Regulation was published in the Official Journal (L 173/1)

Level 2

  • 13 December 2019, ESMA published the responses it received to its consultation on the review of the MAR.

Level 3

  • 8 October 2019, ESMA issued its final report on a set of Regulatory Technical Standards (RTS) on the application of the Market Abuse Regulation (MAR).
  • 12 December 2019, ESMA published the annual report concerning administrative and criminal sanctions as well as other administrative measures issued by NCAs under the MAR.
  • 12 December 2019, ESMA published a peer review report on how national competent authorities (NCAs) handle suspicious transactions and order reports (STOR) under the MAR.
  • 13 December 2019, ESMA issued its second annual report on the application of accepted market practices (AMPs) in accordance with the MAR.
  • 19 December 2019, ESMA published a list of NCAs that have increased the thresholds for the notification of transactions of persons discharging managerial responsibilities and closely associated persons under the MAR.
  • 13 February 2020, ESMA published a table comprising national competent authorities that comply or intend to comply with MAR guidelines for persons receiving market soundings.

Money Market Funds Regulation (MMF)

Updated on 06/04/2020

State-of-play: Published in the Official Journal. L169/8 of 30 June 17

State of play: 30 June 2017, the Regulation was published in the Official Journal (L 169/8)

Level 1

Commission

  • 4 September 2013, the proposal was published.

Parliament

  • 29 April 2015, the report of the ECON Committee was adopted in plenary session.
  • 8 December 2016, the ECON Committee adopted the text based on the trilogue agreement.
  • 5 April 2017, the Parliament adopted the text in plenary.

Council

  • 15 June 2016, the Coreper agreed a negotiating stance on a draft regulation on money market funds.
  • 17 June 2016, the Council confirmed the Coreper's agreement and approved the negotiations mandate.

Trilogue negotiations

  • 7 December 2016, the Council and the Parliament reached a political agreement.
  • 16 May 2017, the Council adopted the MMF Regulation (by QMV, Luxembourg voted against).

Level 2

  • 17 November 2017, ESMA published its final report on technical advice, draft implementing technical standards and guidelines under MMFR.

Level 3

  • 21 March 2018, ESMA published the translated guidelines on stress tests scenarios under Article 28 of the MMFR.
  • 20 July 2018, ESMA sent a letter to the Commission asking for more clarity on share cancellation under MMFR.
  • 11 December 2018, ESMA published the responses to its consultation on stress testing for money market funds.
  • 26 February 2019, ESMA published the responses to its consultation on reporting guidelines under the MMFR.
  • 19 July 2019, ESMA issued two sets of guidelines regarding the stress testing and reporting to NCAs.
  • 3 December 2019, ESMA published a table referring to competent authorities complying or intending to comply with its guidelines on stress test scenarios under the MMF Regulation.
  • 4 March 2020, ESMA published the official translations of its guidelines on stress test scenarios under the MMF Regulation.

Contact

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