European Securities and Markets Authority (ESMA)

📢❓ #ESMA publishes Q&As with further details on specific aspects of the practical application of the Guidelines on funds' names using #ESG or sustainability-related terms. The objective is to ensure a smooth application of the Guidelines through common understanding of key concepts → https://lnkd.in/dsidwvr8. Q&As are related to: 🌱 green bonds 🌱 the convergence on “meaningfully investing in sustainable investments” 🌱 the definition of controversial weapons 📄 Guidelines on funds' names → https://lnkd.in/ejiHqvbg

Corporate information | #ESMA has appointed Carlo Comporti, Commissione Nazionale per le Società e la Borsa (CONSOB), as a new member to its Management Board. Carlo will serve the remainder of the outgoing member’s term—Rodrigo Buenaventura, CNMV—until 31 March 2027. 🙏 We would like to thank Rodrigo for his work and dedication → https://lnkd.in/e7GBHqZz. The election of the Chairs of ESMA’s Standing Committees also took place. The current Chairs were reappointed and will serve their new mandate from 1 January 2025 until 31 December 2026 → https://lnkd.in/dDGnM_R3. 📸 Milano Finanza

📖 The latest ESMA Newsletter features our high-level conference “Shaping the future of EU capital markets”. The event will take place on 5 February 2025 and aims to discuss priority areas to ensure the success of the Savings and Investments Union for EU citizens and businesses. 🗳️ #RegisterNow → https://lnkd.in/d-DkKF_8. 🔄 ESMA also published its Final Report providing the assessment of the shortening of the settlement cycle in the EU and agreed on the first steps of the governance structure together with the European Commission, the European Central Bank, and industry representatives → https://lnkd.in/dT3gy67U. 🌍 November was also marked by the release of the results of the Fit-For-55 climate scenario analysis. Under the scenarios examined, transition risks alone are unlikely to threaten financial stability → https://lnkd.in/dVCwmgED. Other publications: 📂 Response to consultation on assessing the adequacy of macroprudential policies for NBFI → https://lnkd.in/dik8Gwxz 📂 Guidance on exclusion criteria for the selection of Consolidated Tape Providers → https://lnkd.in/d59kjkT4 📂 Consultation on the conditions of the Active Account Requirement following the review of the EMIR 3 → https://lnkd.in/d86CdcJX 📂 Timeline to collect information for the designation of critical ICT third-party service providers under DORA → https://lnkd.in/eg468jWd

🤝 Last week marked the start of the term for the new European Commission and our Chair, Verena Ross, met with Stéphane Séjourné, European Commission Executive Vice-President for Prosperity and Industrial Strategy, and Maria Luís Albuquerque, European Commissioner for Financial Services and the Savings and Investments Union. 🧭 The discussions centred on how together we can ensure the success of the Savings and Investments Union to improve the attractiveness and effectiveness of Europe’s capital markets, #ESMA’s other priorities for the next year, and our cooperation on other key topics and synergies. 👏 ESMA looks forward to continued collaboration as we work together to shape the future of European markets.

Today, following up on #ESMA’s report on shortening of the settlement cycle in the EU, a first milestone was reached as ESMA, together with the European Commission and European Central Bank, hosted a first meeting with industry representatives to discuss setting up a governance structure to ensure a seamless and efficient transition to T+1.      The trade associations that participated in the ‘European T+1 Industry Task Force’, along with organisations representing consumers and issuers were invited to participate. It was a fruitful discussion setting the foundations for the upcoming work of the governance structure.     🧭 One key outcome of the discussion is the agreement for the governance structure to be balanced to cover industry from all sectors, for it to be geographically diverse and work in a transparent manner.  📄 Report on shortening of the settlement cycle in the EU → https://lnkd.in/dT3gy67U

🔴 Join us for the #ESMAconference “Shaping the future of EU capital markets” on 5 February 2025. Our aim is to discuss priority areas for the coming years to ensure the success of the Savings and Investments Union for EU citizens and businesses. 🗳️ #Register until 24 January 2025 → https://lnkd.in/e5nHcZkK. A-listers include: ⭐️ Maria Luís Albuquerque, Commissioner for Financial Services and the Savings and Investments Union, European Commission ⭐️ John Berrigan, Director-General, Financial Stability, Financial Services and Capital Markets Union (DG FISMA), European Commission ⭐️ Stephane Boujnah, CEO, Euronext ⭐️ Nadia Calviño, President, European Investment Bank (EIB) ⭐️ Natasha Cazenave, Executive Director, ESMA  ⭐️ Jacques de Larosière, Author of the Larosière Report ⭐️ Adena Friedman, CEO, Nasdaq ⭐️ Aurore Lalucq, Chair, Committee on Economic and Monetary Affairs, European Parliament ⭐️ Karel Lannoo, CEO, CEPS (Centre for European Policy Studies) ⭐️ Enrico Letta Letta, President, Jacques Delors Institute ⭐️ Erkki Liikanen, Chair, IFRS Foundation ⭐️ Klaus Löber, Chair of the CCP Supervisory Committee, ESMA ⭐️ Aleksandra Maczynska, Managing Director, BETTER FINANCE - European Federation of Investors and Financial Services Users ⭐️ Laura Noonan, Financial journalist, Bloomberg ⭐️ Verena Ross, Chair, ESMA ⭐️ Jean-Paul Servais, Chair, International Organization of Securities Commissions - IOSCO ⭐️ Evert van Walsum, Head of Investor Protection and Sustainable Finance Department, ESMA ⭐️ David Wright, Chairman of Eurofi

🎦 #ESMA will organise a virtual public hearing on the Consultation Paper on the review of RTS 22 and 24 following the MiFIR review. 🗓️ Register by 16 December 2024 and join us on 18 December from 10:00 to 12:30 CEST → https://lnkd.in/dsWT5xse. 📣 Stakeholders will have the opportunity to gain an in-depth understanding of the ESMA's proposed revisions of standards ahead of the extended deadline of 17 January 2025 for the submission of consultation’s feedback → https://lnkd.in/gi-rK29d.

#DigitalFinanceEU | The European Supervisory Authorities (ESAs) provide greater clarity on the supervisory expectations towards the application of the Digital Operational Resilience Act #DORA and on the timeline for the first designation of the Critical Third-Party ICT Service Providers → https://lnkd.in/dhtGCbF9. 🗓️ DORA together with the ESAs technical standards and guidelines will apply from 17 January 2025. As DORA does not provide for a transitional period, we emphasise the importance for financial entities to adopt a robust, structured approach in order to meet their obligations in a timely manner. 💡 More information → https://lnkd.in/gSjPFpSZ CC: European Banking Authority (EBA) | European Insurance and Occupational Pensions Authority (EIOPA)

The Listing Act aims to simplify the listing rules for companies that want to list on public stock exchanges, while also preserving transparency, investor protection and market integrity. The European Commission seeks #ESMA’s advice on certain acts to supplement specific provisions of the Prospectus and Market Abuse Regulations and #MiFIDII → https://lnkd.in/dmrCWNcz. The Listing Act also strives to counter the fragmentation of national laws that restrict the flexibility of companies to issue multiple-vote shares when going public, which is particularly important for innovative scale-ups.

Did you know that fraud and scams increase by 30% during this time of the year? 🎅🎄 #ScamAlert    Potential victims tend to have less time and attention, and companies are often understaffed. Criminals take advantage of this and may offer you an easy loan or financial gains that sound too good to be true. 📞 If you receive suspicious emails or calls, contact your local law enforcement authorities, and inform your National Competent Authority: https://lnkd.in/dDdhYFnt.  Not sure ❓ Contact: scamreport@esma.europa.eu   Be vigilant 👁️ — don’t give fraud a chance:  https://lnkd.in/eehqfqd