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The Agency for the Cooperation of Energy Regulators (ACER) has published its latest Annual Report covering its activities under the Regulation on wholesale energy market integrity and transparency (REMIT). The report focuses on ACER’s implementation and monitoring activities in 2014/15. In particular it notes that in January 2015 ACER launched its new REMIT Portal – the single point of access for all REMIT-related applications – and opened the registration of Registered Reporting Mechanisms. It also…
The three European Supervisory Authorities have jointly published a consultation paper on draft guidelines on the prudential assessment of acquisitions and increases of qualifying holdings in the financial sector. The draft guidelines define common procedures based on the assessment criteria set out in Directive 2007/44/EC as regards procedural rules and evaluation criteria for the prudential assessment of acquisitions and increases in holdings in the financial sector. The draft guidelines seek to harmonise the conditions under…
In Policy Statement 15/6: Bringing additional benchmarks into the regulatory and supervisory regime the FCA noted that some respondents to its earlier Consultation Paper had raised concerns regarding the unconstrained ability of administrators to set the prices of benchmarks. In its response, the FCA stated that it would consider whether additions to the rules in chapter 8 of the Market Conduct Sourcebook (MAR 8) were necessary. The FCA has considered the issue further and has…
We have updated our briefing note concerning the impact of MiFID II and MiFIR on commodities and commodity derivatives trading. The updated briefing note takes into account the Final Report and Consultation Paper published by the European Securities and Markets Authority in December and covers the extended scope of financial instruments, the exemptions for commodity firms and position limits and position reporting.  …