His speech focused on the role of corporate governance to attract retail investors to the financial markets, the EU’s Capital Markets Union and the role of ESMA.
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has issued today its final report on a set of Regulatory Technical Standards (RTS) on the application of the Market Abuse Regulation (MAR).
The European Securities and Markets Authority (ESMA), the EU’s securities market regulator, has conducted a study on the use of derivatives by UCITS equity funds in collaboration with researchers from the Technical University of Munich (TUM).
The European Banking Authority (EBA) launched today a 2-month public consultation on its proposals for a simple, transparent and standardised (STS) framework for synthetic securitisation. This ground-breaking work on synthetic securitisation unveils new data and insights into post-crisis market developments and trends, including data on historical default and loss performance. It also proposes a list of criteria to be considered when labelling the synthetic securitisation as ‘STS’. While the Discussion Paper does not provide any recommendations on any potential differentiated regulatory treatment, it does seek stakeholders’ input about the possibility, its potential impact and other considerations. The consultation runs until 25 November 2019.
Financial innovation is as old as the financial sector itself. But sometimes we can move forward by dusting off instruments that have been in our tool box for a long time, adapting them to modern usage and applying them, in order to address contemporary challenges. Such is the case with covered bonds.
First introduced by Frederick II of Prussia exactly 250 years ago, covered bonds have now become a major building block in efforts to build safe and efficient capital markets in many central and eastern European countries.
The annual growth rate of the outstanding amount of debt securities issued by euro area residents was 2.9% in July 2019, compared with 2.8% in June. For the outstanding amount of listed shares issued by euro area residents, the annual rate of change was -0.1% in July 2019, compared with 0.0% in June.
The European Banking Authority (EBA) has updated its online Interactive Single Rulebook and Q&A tool with the inclusion of the “simple, transparent and standardised” (STS) Securitisation Regulation, (EU) 2017/2402.
The European Securities and Markets Authority (ESMA) has published today its final guidance regarding liquidity stress tests of investment funds – applicable to both Alternative Investment Funds (AIFs) and Undertakings for the Collective Investment in Transferable Securities (UCITS).
The European Securities and Markets Authority (ESMA) has today issued two positive opinions on product intervention measures taken by the National Competent Authority (NCA) of Slovenia. ESMA’s opinion finds that the proposed measures are justified and proportionate and that it is necessary for NCAs of other Member States to take product intervention measures that are at least as stringent as ESMA’s measures.
The private sector working group on euro risk-free rates has today published a report containing a set of recommendations addressing the impact of the transition from the euro overnight index average (EONIA) to the euro short-term rate (€STR).