Pre-hedging is a voluntary market practice which might give rise to conflicts of interest or abusive behaviours.
Whereas #ESMA does not find arguments to ban this practice at this stage, it ⛳️ flags risks.
https://europa.eu/!dg9yxY

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1689946775191269376

🌍 Understanding the implementation of the #SustainableFinanceEU disclosures legislation is not easy. #ESMA updated its timeline to include changes on SFDR, CSRD, and the entry into application of the guidelines on suitability and on product governance → https://europa.eu/!pKdw4m.

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1689200663912218624

📤 #ESMA newsletter is out → https://europa.eu/!3x74JX.
🪙 #MiCA consultation package
📊 Analysis of the cross-border investment activity
🌍Statement on the sustainability disclosure in prospectuses
🔎 Implementation of SRD2
📄 Briefing on the definition of advice under #MiFIDII

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1688838215791161347

🎧 #ESMA Data Intelligence and Technology Lead
@NikolayArnaudov participated in the 🥇 episode of
@MFSAComm Talk.
He explained how more #data and technological-oriented approaches can increase efficiency of the supervision of financial markets in Europe.
https://youtu.be/MUPYRFWCdG4

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1688861991597711360

What is an #investment advice in a supervisory briefing?
✅ #ESMA reviewed and updated the CESR Q&A on the definition
🗣️ Who? National supervisors and firms
🎯 Why? Align it with new business models and recent technological developments
https://europa.eu/!crmvnV

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1687110409726341120

#DYK | #ESMA Interactive Single Rulebook provides an overview and easy access to level 2 and level 3 measures adopted in relation to a given level 1 text.
#ISRB facilitates the consistent application of 🇪🇺 #SingleRulebook in the securities markets area.
https://europa.eu/!tNT4HM

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1684488815874912257

🔎 #ESMA and @EBA_News assessed the Shareholder Rights Directive 2 implementation → https://europa.eu/!BFF3Qh.
▪️ For proxy advisors - the current framework is overall robust.
▪️ For the investment chain - need for further efforts for a common definition of the term shareholder.

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1684851307817910272

❓ Do you have a question on the practical application or implementation of EU law or #ESMA acts? Use our Q&A tool → https://europa.eu/!FyXGhF.
💡ESMA provides guidance and clarification to ensure consistent application of the 🇪🇺 #SingleRulebook for financial services.

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1685938734196269056

#ESMAstrategy | Tough times need planning and realistic ambitions. Our 5-year strategy puts forward a set of long-term priorities → https://europa.eu/!HghpJJ.
💼 #ESMA details how it will use its competences and toolbox to respond to future challenges and developments.

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1686300759011344387

Re #ESMAStrategy sets out strategic goals for achieving #ESMA's mission to enhance #investor protection, promote orderly and stable financial markets. → https://europa.eu/!HghpJJ.
Available also in
French → https://europa.eu/!rxxgcD.
German → https://europa.eu/!PM8D9T.

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1686301211677409280

🗞️ #ESMA Working Paper out → https://europa.eu/!Cr3wPP.
🔵 Funds investing in less liquid assets (high yield bond funds) or using complex strategies tend to transmit shocks more than funds investing in more liquid assets (government bonds funds).

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1686669466745044992

Re #ESMA assesses how shocks to some funds spill over to other funds, using data from 2008 to 2020.
We show that bilateral connectedness between fund categories can change over time and, for some types of funds, tend to increase during stress periods.
https://europa.eu/!Cr3wPP

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1686669470264139776

#ESMA revised the technical standards for passporting under Article 34 of #MiFIDII → https://europa.eu/!3R7yWG.
🎯 The proposals include amendments that would add new information requirements to the list of details investment firms have to provide at the passporting stage.

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1683401671831846912

📢 #EUHaveYourSay | #ESMA consultations → http://europa.eu/!jF39Vv
▪️ RTS under revised ELTIF Regulation⏳24 Aug.
▪️ #DORA policy products⏳11 Sept.
▪️ Call for Evidence on sustainability in suitability and product governance⏳15 Sept.
▪️ #MiCA 1st consultation package⏳20 Sept.

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1683416737121722371

💬 Looking for #SummerReads? Check out the latest speeches from #ESMA Senior Management → https://europa.eu/!vD4kff.
💡 Stability risks in 🇪🇺 energy markets
💡 Retail Investment Strategy
💡 Driving efficiency: unleashing the potential of EU capital markets
💡 Greenwashing

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1683764062490853378

#ICYMI | 📨 #ESMA newsletter → https://europa.eu/!3W9vXx.
📈 #ESMAdata Strategy
🏆 #AnnualReportESMA
📄 Overview of national rules governing fund marketing
🔌 #DORA consultation
🔋 Measures to reduce volatility in trading of energy derivatives
📚 Publications
💼 Vacancies

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1684126536386105344

What did #ESMA do to improve its environmental performance and activities?
🌳 Environmental statement for 2022 → https://europa.eu/!QYR3bF
Actions:
⚡️ have a clear vision on energy consumption
♻️ reduce water consumption, paper use & waste
🚆 decrease GHG emissions due to travel

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1684187335527911430

🔔 Stay up to date on your topics of interest. Sign up for our notifications and #newsletter📨 → https://europa.eu/!8xyvd9.
📌 Follow and engage with #ESMA on social media → http://bit.ly/3J6f6Oc. https://n.respublicae.eu/ESMAComms/status/1682330084298956803/photo/1

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1682330084298956803

#ICYMI |🌍 #ESMA recently updated its #SustainableFinanceEU implementation timeline.
🆕 Updates on CSRD and SFDR Delegated Regulation.
🤔 Need a legend? Find it here → http://europa.eu/!pKdw4m. https://t.co/1sKJU4xqus

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1682314498588176389

🔴 #ESMA performed an analysis of the cross-border activities of investment services in 2022.
Data collected across 29 jurisdictions show various aspects of the market for retail investors that receive #investment services by credit institutions and investment firms.
👇

🐦🔗: https://n.respublicae.eu/ESMAComms/status/1681635375733776384