📢❓ It's Q&A day. #ESMA updated or issued Q&As on AIFMD, #MiCA, MiFID II, UCITS, ECSPR, EMIR and MiFIR→ https://lnkd.in/dxq_xjcg and https://lnkd.in/dKfTABed. ⚠️ ESAs have also published additional Q&As on the practical application of the #SFDR → https://lnkd.in/eSnYXzr2. The new Q&As cover issues related to the: 🌱 principal adverse impact disclosures 🌱 calculation of taxonomy-aligned investments 🌱 calculation of sustainable investments 🌱 treatment of investments in other financial products 🌱 treatment of investments used for hedging and liquidity 🌱 need to set up websites where they do not already exist
European Securities and Markets Authority (ESMA)
Politiques publiques
Paris, Île-de-France 89 388 abonnés
EU authority responsible for enhancing investor protection, promoting orderly markets & ensuring financial stability.
À propos
ESMA is an independent EU Authority that was established in 2011. It works closely with the national competent authorities who are members of the European System of Financial Supervision and the other European Supervisory Authorities – the European Banking Authority (EBA) responsible for banking and the European Insurance and Occupational Pensions Authority (EIOPA) responsible for insurance and occupational pensions.
- Site web
-
http://www.esma.europa.eu
Lien externe pour European Securities and Markets Authority (ESMA)
- Secteur
- Politiques publiques
- Taille de l’entreprise
- 201-500 employés
- Siège social
- Paris, Île-de-France
- Type
- Administration publique
- Fondée en
- 2011
- Domaines
- Financial Markets, Regulation, Supervision, Credit Rating Agencies, Post-trading, Secondary Markets, Financial Information et Investor Protection
Lieux
-
Principal
201-203, Rue de Bercy
75012 Paris, Île-de-France, FR
Employés chez European Securities and Markets Authority (ESMA)
-
Kestutis Kupsys
Conseiller au Comité Économique et Social Européen (CESE)
-
Francesco Saita
Director, Financial Education Research Unit, Baffi CAREFIN Centre, Bocconi University
-
Jerome BLAQUIERE
Parcours international et multi-sectoriel en finance d'entreprise
-
Laurent Lamagnere
Deputy CEO- Head of Development at AlphaValue
Nouvelles
-
Investor protection | #ESMA completed an analysis of the cross-border provision of #investment services during 2023. The data sets were collected from investment firms across 30 jurisdictions in the EU/EEA → https://lnkd.in/dAijrthm. In a nutshell: 🔹 8 million clients 🔸 ~ 386 firms provided services to retail clients on a cross-border basis 🔹 cross-border market for investment services 📈 1.6% in terms of firm numbers and 📈 5% in terms of retail clients — compared to 2022 🔸 Cyprus — primary location for firms providing cross-border investment services 🔹 Germany, France, Spain and Italy — most significant destinations (number of retail clients) for investment firms providing cross-border services in other Member States
-
🌍 #SustainableFinanceEU | The EU Sustainable Finance Framework is already well developed and includes safeguards against #greenwashing. In the longer-term, the Framework could further evolve to facilitate investors’ access to sustainable investments and support the effective functioning of the Sustainable Investment Value Chain. 🔸 Our vision → https://lnkd.in/dXZFNn86. Recommendations for the European Commission's consideration: 🌱 #EUTaxonomy — common reference point for the assessment of sustainability 🌱 Embed EU Taxonomy in all Sustainable Finance legislation 🌱 Incorporate the definition of transition investments in the Framework 🌱 All financial products to disclose minimum basic sustainability information — environmental and social characteristics 🌱 Introduce a product categorisation system 🌱 Bring #ESG data products into the regulatory perimeter 🌱 Carry out consumer and industry testing before implementing policy solutions
-
-
📢 #EUHaveYourSay | ESMA launched a new package of public consultations with the objective of increasing transparency and system resilience in financial markets, reducing reporting burden and promoting convergence in the supervisory approach → https://lnkd.in/dsQ-diDZ. Once these standards are approved, they will facilitate the implementation of the Consolidated Tape Provider in the European Union as well as contribute to a more informative pre-trade and post-trade transparency regime. The new rules also aim to foster efficiency and competitiveness in European financial markets, thanks to streamlined reporting requirements. 💡 More on MiFID II and MIFIR review → https://lnkd.in/eAXVFnW3.
-
-
Supervisory convergence | Germany’s supervisory system in financial reporting was substantially revised and strengthened, discontinuing the 2-tier system, and entrusting all supervision to BaFin, according to the Follow-up Report to the #Wirecard Fast Track Peer Review → https://lnkd.in/dsgXwYPu. Key findings: 🧷 Improved independence from issuers and government 🧷 Improved selection model, examination procedure, investigative powers, cooperation and exchange of information 🧷 BaFin now fully complies with the Guidelines on enforcement of financial information → https://lnkd.in/eqGS7dW
-
-
#DigitalFinanceEU | The European Supervisory Authorities came out with a second batch of policy products under #DORA, which aim at enhancing the digital operational resilience of the EU’s financial sector: 4 final draft regulatory technical standards, 1 set of Implementing Technical Standards and 2 guidelines → https://lnkd.in/eeaKNSXr. 💡 reporting framework for ICT-related incidents (reporting clarity, templates) and threat-led penetration testing 💡 requirements on the design of the oversight framework, which enhance the resilience of the EU financial sector 👉 Digital Operational Resilience Act = https://lnkd.in/gSjPFpSZ
-
-
#DigitalFinanceEU | The European Supervisory Authorities will establish the EU systemic cyber incident coordination framework, in the context of the Digital Operational Resilience Act #DORA → https://lnkd.in/dwZZ3wUy. The framework will facilitate an effective financial sector response to a cyber incident that poses a risk to financial stability, by strengthening the coordination among financial authorities and other relevant bodies in the EU/international level.
-
-
European Single Electronic Format #ESEF | ESMA updated its Reporting Manual on ESEF supporting a harmonised approach for the preparation of annual financial reports. ESMA has also updated the Annex II of the Regulatory Technical Standards on ESEF → https://lnkd.in/gxGcA5us. 👤 issuers are expected to follow this guidance for their 2024 annual financial reports ✅ recommendations when tagging empty fields or dash symbols ✅ clarifying that extension elements should be anchored to core elements sharing the same data type ✅ advising on practices to further improve the readability of the information extracted from a block tag ✅ encouraging the use of unique identifiers for each tagged fact
-
#PostTrading | Great to interact with more than 500 people at ESMA’s public hearing on T 1 last week 👏 Shortening the settlement cycle represents a significant change to the way in which markets operate today and this applies at all levels from CSDs, to investors going through CCPs, trading venues and intermediaries. The process to get to T 1 in the EU will be complex. 🎦 More on that and what happened in the US → https://lnkd.in/dH5KYGrq. 🎙️ Verena Ross, ESMA Chair’s remarks → https://lnkd.in/dhMqm3Ni 📄 Presentations → https://lnkd.in/duSUpvjA
-
#CSDR | 📣 ESMA consults on different aspects of the Central Securities Depositories Regulation Refit. The proposed rules relate to the information to be provided by European CSDs to their national competent authorities for the review and evaluation, the information to be notified to #ESMA by third-country CSDs, and the scope of settlement discipline. 🗓️ Send your input by 9 September → https://lnkd.in/d-DkeMxs. 🎯 ESMA aims to streamline information from third-country CSDs - notary, central maintenance, and settlement services in the EU to reduce reporting burden 🎯 The scope of settlement discipline, addressing the cause of settlement fails not attributable to transaction participants and specifies non-trading circumstances
-