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October - November 2020

 
 

INVESTMENT SERVICES

 
 
 

Europe

 
 
   
 

ESMA

 
 

ESMA publishes its 2021 Work Programme

ESMA issues latest double volume cap data

ESMA publishes new Q&A on product governance

 

LEGISLATION

 
 

Implementing Regulation (EU) 2020/1406 of the Commission of 2 October 2020 laying down technical implementing rules concerning procedures and forms for the exchange of information and cooperation between competent authorities, ESMA, the Commission and other entities on market abuse

Directive (EU) 2020/1504 of the European Parliament and of the Council of 7 October 2020 amending Directive 2014/65/EU on markets in financial instruments

 
 

Spain

 
 
   
 

CNMV

 
 

Circular 2/2020 of 28 October from the CNMV on the advertising of investment products and services

Public statement on bad practices in cross-border marketing of investment services by firms located in other EU countries

 

ASSET MANAGEMENT

 
 
 

Europe

 
 
   
 

ESMA

 
 

ESMA announces update to reporting under the Money Market Funds Regulation

ESMA publishes translations of the Guidelines on performance fees in UCITS and certain types of AIFs

ESMA publishes third annual report on use of sanctions for UCITS

ESMA specifies obligations for environmentally sustainable activities

ESMA consults on guidance for funds’ marketing communications

ESMA tells fund managers to improve readiness for future adverse shocks

 

EUROPEAN COMMISSION

 
 

Proposal for a regulation amending Regulation (EU) 2015/760 of the European Parliament and of the Council of 29 April 2015 on European long-term investment funds

The Commission launches a public consultation on the review of the Alternative Investment Fund Managers Directive (AIFMD)

 

MARKET INFRASTRUCTURES

 
 
 

Europe

 
 
   
 

ESMA

 
 

ESMA publishes updated Q&As on securitisation topics and Guidelines on Portability of Information between Securitisation Repositories

ESMA consults on CCP supervisory reviews and evaluation processes

ESMA consults on standards for CCP activities and model amendments

EMIR Reporting Validation Rules applicable from 8 March 2021

ESMA adds UK venues to opinions on third-country trading venues

ESMA publishes data for the systematic internaliser calculations for equity, equity-like instruments, bonds and other non-equity instruments

ESMA makes new bond liquidity data available

ESMA publishes first Q&As on SFTR Reporting

ESMA publishes its first reports on CSDR implementation

ESMA sets out final position on share trading obligation

 

OTHERS

 
 
 

Europe

 
 
   
 

ESMA

 
 

ESMA updates statements on the impact of Brexit on MiFID II/MiFIR and the Benchmarks Regulation

ESMA publishes translations for Guidelines on securitisation repository data completeness and consistency thresholds

 

LEGISLATION

 
 

Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European providers of equity financing services to businesses, and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937

 
 

Spain

 
 
   
 

CNMV

 
 

The CNMV publishes the annual report on investors’ complaints and enquiries for 2019

 

LEGISLATION

 
 

Law 5/2020 of 15 October on the Financial Transactions Tax

Law 4/2020 of 15 October on the Tax on Certain Digital Services

Law 7/2020 of 13 November for the digital transformation of the financial system

     
 

In case of any doubts or comments, please do not hesitate to contact

 

Isabel Aguilar Alonso
isabel.aguilar@uria.com

 

Pilar Lluesma Rodrigo
pilar.lluesma@uria.com

       
 

Juan Carlos Machuca
juancarlos.machuca@uria.com

 

 

 
 

The information contained in this Newsletter is of a general nature and does not constitute legal advice

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