Posts by: Francesca Drake

ECON Publishes Draft Reports on Regulation on Banking Structural Reforms and Regulation on Securities Financing Transactions

Posted on

The European Parliament’s Committee on Economic and Monetary Affairs (ECON) has published two draft reports on (i) the proposed Regulation on banking structural reforms and (ii) the proposed Regulation on securities financing transactions.

Each of the draft reports contains a European Parliament legislative resolution on each of the Regulations which set out suggested amendments to the European Commission’s original proposals. The draft reports are to be considered by ECON during March 2015 and the European Parliament is scheduled to consider the Regulations at its plenary session on April 27 – 30, 2015.  Report (i).  Report (ii).

ESMA Publishes Final Technical advice on the MiFID II Directive and MiFIR

Posted on

On December 19, 2014, the European Securities and Markets Authority (ESMA) published final technical advice (ESMA/2014/1569) to the European Commission and a consultation paper (ESMA/2014/1570) on the MiFID II Directive (2014/65/EU) and MiFIR (the Markets in Financial Instruments Regulation (Regulation 600/2014).

The consultation paper includes draft regulatory technical standards (RTS) and implementing technical standards (ITS) under the MiFID II Directive and MiFIR.  The consultation paper invites responses to the draft RTS and ITS by March 2, 2015, and responses will be used to finalise the draft RTS which will be sent to the Commission for endorsement by the middle of 2015.  Technical Advice.  Consultation Paper.

EIOPA Consults on Second Set of Solvency II Implementing Technical Standards and Guidelines

Posted on

The European Insurance and Occupational Pensions Authority (EIOPA) has, on December 2, published 16 consultations in respect of the second set of draft implementing technical standards (ITS) and guidelines required under the Solvency II Directive (2009/138/EC).

The 16 consultations have been grouped under the three Solvency II pillars. EIOPA has also published two additional consultations on: (i) the draft guidelines on the supervision of branches of third-country insurance undertakings; and (ii) technical advice on recovery plans, finance schemes and supervisory powers in deteriorating financial conditions.

Responses to the consultations are requested by March 2, 2015 with the exception of the technical advice consultation for which responses are requested by February 18, 2015.  Consultations.

IOSCO Publishes Report on Post-Trade Transparency in the Credit Default Swaps Market

Posted on

On November 17, the International Organization of Securities Commissions (IOSCO) published a report (CR08/2014) on post-trade transparency in the credit default swaps market. The report analyzes the potential impact of mandatory post-trade transparency in the credit default swaps market and identifies certain potential benefits and costs to mandatory post-trade transparency.  Comments are invited on the report by February 15, 2015.  Report.