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To enhance the information exchange between supervisory authorities within the European Union, also across different parts of the financial sector, the ESAs have developed an ESAs F&P Information System. The Joint Guidelines clarify its use and how data can be exchanged. The Joint Guidelines aim to ensure consistent and effective supervisory practices within the European …

The European Supervisory Authorities (EBA, EIOPA, ESMA – ESAs) publish Joint Guidelines on the system for the exchange of information relevant to fit and proper assessments Read More »

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published a Consultation Paper (CP) on the conditions of the Active Account Requirement (AAR) following the review of the European Market Infrastructure Regulation (EMIR 3). The amending Regulation introduces a new requirement for EU counterparties active in certain derivatives …

Active Account Requirement – ESMA is seeking first input under EMIR 3 Read More »

Vacation Finance Limited, trading as VFL Finance Solutions, was placed into administration on 20 November 2024. Dina Devalia and Frank Wessely of Quantuma Advisory Limited were appointed as joint administrators. Vacation Finance Limited provided finance for timeshares. The firm is no longer offering finance to new customers. The joint administrators will write to customers with …

Vacation Finance Limited enters administration Read More »

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published its Final Report on the Technical Advice for the European Commission on the Penalty Mechanism under the Central Securities Depositories Regulation (CSDR). The advice aims at incentivising all actors in the settlement chain to improve settlement efficiency, also in …

ESMA finalises its advice on the CSDR Penalty Mechanism Read More »

The European Supervisory Authorities (EBA, EIOPA, and ESMA – the ESAs) together with the European Central Bank (ECB), today 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 …

Transition risk losses alone unlikely to threaten EU financial stability, “Fit-For-55” climate stress test shows Read More »

The FCA is improving the accuracy of the market cleanliness statistic (MCS), used in its annual report to measure insider trading. The MCS is based on abnormal stock price movements before takeover offer announcements. In future, the FCA will: detect abnormal price movements that happen on the same day as an announcement because the price …

A revision of our market cleanliness statistic methodology Read More »