December 2020 & January 2021
Europe
ESMA
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ESMA issues latest double volume cap data
ESMA agrees position limits under MiFID II
ESMA supports IFRS Foundation’s efforts on international standardisation in sustainability reporting
ESMA reminds firms of the MiFID II rules on reverse solicitation
ESMA consults on the appropriateness and execution-only requirements under MiFID II
ESMA updates guidelines on stress tests for money market funds
ESMA publishes final guidance to address leverage risk in the AIF sector
ESMA updates reporting under the MMFR
ESMA calls for legislative action on ESG ratings and assessment tools
ESMA launches a Common Supervisory Action with NCAs on the supervision of costs and fees of UCITS
Spain
CNMV
CNMV approves technical guide on non-professional advisors of collective investment schemes (CIS)
Draft accounting circular for investment firms, management companies of collective investment institutions and management companies of venture capital entities repealing Circular 7/2008
ESMA publishes draft technical standards under EMIR REFIT
ESMA updates Guidelines on written agreements between CCP college members
ESMA publishes transparency calculations update after the end of the Brexit transition period
ESMA recognises Euroclear UK & Ireland Limited (EUI) after Brexit transition period
ESMA recommends more time to implement a mix of solutions for PSAs to clear
CFTC and ESMA sign enhanced MOU related to certain recognised central counterparties
ESMA updates EMIR Q&A’S
ESMA updates SFTR Q&A’S
LEGISLATION
Targeted consultation on the review of the Regulation on improving securities settlement in the EU and on central securities depositories
ESMA renews its decision requiring net short position holders to report positions of 0.1% and above
ESMA withdraws the registrations of six UK-based credit rating agencies and four trade repositories
ESMA reminds users of scheduled IT operations at the end of the Brexit transition period
EUROPEAN SUPERVISORY AUTHORITIES
ESAs highlight the change in the status of simple, transparent and standardised (STS) securitisation transactions at the end of the UK transition period
Royal Decree-Law 38/2020 of 29 December adopting measures to adapt to the UK’s third State status
CNMV newsletter: includes the market situation report and three articles on investment fund stress testing, the sandbox and the central counterparty resolution regime
The Ministry of Consumer Affairs, Bank of Spain and the CNMV sign an agreement to improve consumer protection through financial education
CNMV’s Q&A regarding the scope of Articule 13 of the RDL 38/2020
In case of any doubts or comments, please do not hesitate to contact
Isabel Aguilar Alonsoisabel.aguilar@uria.com
Pilar Lluesma Rodrigopilar.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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