The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published its latest edition of the Spotlight on Markets Newsletter.
Your one-stop-shop in the world of EU financial markets features ESMA’s high-level conference “Shaping the future of EU capital markets”. The event will take place in Paris 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. A-listers already confirmed their attendance.
You can register for online participation by 24 January 2025, as well as indicate if you are interested to join in-person in case there is a possibility to accommodate additional attendees. More here.
ESMA also published its Final Report providing the assessment of the shortening of the settlement cycle in the European Union. ESMA recommends that the migration to T+1 occurs simultaneously across all relevant instruments and that it is achieved in Q4 2027. In addition, ESMA, together with the European Commission and the European Central Bank, hosted a first meeting with industry representatives to discuss setting up a 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. More here.
The European Supervisory Authorities together with the European Central Bank released the results of the one-off Fit-For-55 climate scenario analysis. Under the scenarios examined, transition risks alone are unlikely to threaten financial stability. However, when transition risks are combined with macroeconomic shocks, they can increase losses for financial institutions and may lead to disruptions.
In November, ESMA also sent its response to the European Commission consultation on assessing the adequacy of macroprudential policies for Non-Bank Financial Intermediation and announced further guidance on exclusion criteria for the selection of Consolidated Tape Providers
Other publications:
Consultation Paper on the conditions of the Active Account Requirement following the review of the EMIR 3
Timeline to collect information for the designation of critical ICT third-party service providers under DORA
Data collection exercise linked to investments in AIFs and UCITS