European Securities and Markets Authority (ESMA)’s Post

The ESMA published the final report under the Markets in Crypto-Assets Regulation covering draft technical standards (#MiCA)📊. It aims to improve transparency for retail investors, clarify requirements for providers, and set data standards for supervision 📈. Key points include sustainability indicators, business continuity, trade transparency, orderbook format, machine-readable white papers, and public disclosure of insider information 📋.

#MiCA #Transparency #retailinvestor New MiCA rules increase transparency for retail investors The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published the second Final Report under the Markets in Crypto-Assets Regulation (MiCA) covering eight draft technical standards that aim to provide more transparency for retail investors, clarity for providers on the technical aspects of disclosure and record-keeping requirements, and data standards to facilitate supervision by National Competent Authorities (NCAs).    The final report includes the following draft technical standards:  - sustainability indicators for crypto-asset consensus mechanisms;  - business continuity measures for crypto-asset service providers (CASPs);  trade transparency;  - content and format of orderbooks and record-keeping by CASPs;  - machine readability of white papers and the register of white papers; and  - public disclosure of inside information. For further information, pls see below. Best regards, Hartmut Renz https://lnkd.in/eUesaw8A

European Securities and Markets Authority (ESMA), which serves as the EU's financial markets regulator, has released its second consultation package related to the #MiCA. The documents published 05/10/2023 (https://lnkd.in/eYSMKhRZ) cover five key areas: 🔹Sustainability indicators for distributed ledgers 🔹Disclosures of inside information 🔹Technical requirements for white papers 🔹Trade transparency measures 🔹Record-keeping and business continuity requirements for crypto-asset service providers ESMA will compile a final report based on the feedback received and submit the draft technical standards to the European Commission for endorsement, no later than June 30, 2024. Furthermore, #ESMA plans to release a third consultation package in Q1 of 2024, addressing the remaining 18-month mandates. For additional details on the MiCA implementing measures and the transitional period, please refer to our infographic.

#MiCA European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published the second Final Report under the Markets in Crypto-Assets Regulation (#MiCA) covering 8 draft technical standards that aim to provide more transparency for retail investors, clarity for providers on the technical aspects of disclosure and record-keeping requirements, and data standards to facilitate supervision by National Competent Authorities (NCAs). The final report published today includes the following draft technical standards: 🔹sustainability indicators for crypto-asset consensus mechanisms; 🔹business continuity measures for crypto-asset service providers (CASPs); 🔹trade transparency; 🔹content and format of orderbooks and record-keeping by CASPs; 🔹machine readability of white papers and the register of white papers; and 🔹public disclosure of inside information. 📌 https://lnkd.in/eP5ipMQm

🚀 ESMA has just published the second Final Report under the Markets in Crypto-Assets Regulation (MiCA). 🌍 This report includes eight draft technical standards designed to enhance transparency for retail investors and provide clarity for providers on disclosure and record-keeping. The document encompasses the following draft technical standards: - Sustainability Indicators 🌱: Introducing indicators for crypto-asset consensus mechanisms to inform about environmental impacts. - Business Continuity 🔄: Establishing measures for crypto-asset service providers (CASPs) to ensure operational resilience. - Trade Transparency 💹: Enhancing transparency for trading activities. - Order books and Record-Keeping 🗃️: Defining the content and format requirements for CASP order books and records. - White paper Readability 🤖: Ensuring white papers and their registers are accessible to humans and machines. - Public Disclosure 🔍: Disclosure of inside information to prevent market abuses like insider dealing. The new standards will benefit market participants, as they define standardized templates and formats for CASP records and define data publication requirements for trading platforms. These new standards will also empower National Competent Authorities (NCAs) with the information necessary to effectively supervise the EU crypto-asset market and ensure transparent disclosure of price-sensitive information. Once finalized, the draft technical standards will be submitted to the European Commission for adoption. The European Commission shall decide whether to adopt them within 3 months.  https://lnkd.in/d5AxuX98

🕵♀️ 𝐄𝐁𝐀 𝐝𝐫𝐚𝐟𝐭 𝐠𝐮𝐢𝐝𝐞𝐥𝐢𝐧𝐞𝐬 𝐨𝐧 𝐫𝐞𝐬𝐭𝐫𝐢𝐜𝐭𝐢𝐯𝐞 𝐦𝐞𝐚𝐬𝐮𝐫𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐜𝐨𝐧𝐭𝐞𝐱𝐭 𝐨𝐟 𝐭𝐫𝐚𝐧𝐬𝐟𝐞𝐫𝐬 𝐨𝐟 𝐟𝐮𝐧𝐝𝐬 𝐚𝐧𝐝 𝐭𝐫𝐚𝐧𝐬𝐟𝐞𝐫𝐬 𝐨𝐟 𝐜𝐫𝐲𝐩𝐭𝐨-𝐚𝐬𝐬𝐞𝐭𝐬 In the context of the new Regulation (EU) 2023/1113 that applies as of 30 December 2024 and is dealing with information accompanying transfers of funds and certain crypto-assets, EBA is issuing draft guidelines on internal policies, procedures and controls to ensure the implementation of Union and national restrictive measures when performing transfers of funds and crypto-assets under this Regulation. 👁️🗨️ 𝐎𝐛𝐣𝐞𝐜𝐭𝐢𝐯𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐝𝐫𝐚𝐟𝐭 𝐠𝐮𝐢𝐝𝐞𝐥𝐢𝐧𝐞𝐬 - Ensuring the effectiveness of Union and national restrictive measures 🎯 𝐒𝐜𝐨𝐩𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐝𝐫𝐚𝐟𝐭 𝐠𝐮𝐢𝐝𝐞𝐥𝐢𝐧𝐞𝐬 - Payment service providers and crypto-asset service providers - Transfer of funds and transfer of crypto-assets 🖼 𝐂𝐨𝐧𝐭𝐞𝐧𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐝𝐫𝐚𝐟𝐭 𝐠𝐮𝐢𝐝𝐞𝐥𝐢𝐧𝐞𝐬 - Guidance on roles and responsibilities within the companies - Methodology how to conduct a restrictive measure exposure assessment - Processes to fully and properly implement restrictive measures without delay - Due diligence requirements (initial and ongoing) when choosing a screening system - Steps required when screening customers, analysing alerts, suspending execution of transfers, freezing funds and reporting to national competent authorities - Steps required to be able to detect attempts to circumvent restrictive measures The consultation is open until 25 March 2024 (https://lnkd.in/eStJhhYn). #EBA #AML #Restrictivemeasures #PSP #CASP #PwCLuxembourg #ConsultationPaper

"The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator, has released the second final report under the Markets in Crypto-Assets Regulation (MiCA) including eight draft technical standards aimed at enhancing transparency. The second final report is designed for retail investors, providing clear guidelines for providers on disclosure, record-keeping requirements and data standards for supervision by National Competent Authorities (NCAs). Key draft technical standards in the report address sustainability indicators for crypto-asset consensus mechanisms and business continuity measures for crypto-asset service providers (CASPs). They also cover trade transparency and the content and format of orderbooks and record-keeping by CASPs." #mica #cryptoregulation #casps #ncas #eu #stablecoins #crypto #cryptoassets #digitalassets

📖 #ESMA Newsletter in its May edition highlights the Position Paper with recommendations for more effective and attractive capital markets in the EU, including a factsheet summarising the key points → https://lnkd.in/dvBf4q8Q. ESMA also issued a statement with initial guidance to firms using Artificial Intelligence technologies when they provide investment services to retail clients, and the guidelines that set out harmonised criteria for the use of ESG and sustainability terms in fund names. Discover also: • 11th Joint ESAs Consumer Protection Day → https://lnkd.in/dBxrAR9R • Final Report on the rules on conflicts of interests of crypto-asset service providers under MiCA → https://lnkd.in/eUf4D74W • Final Report on the 2023 Common Supervisory Action and Mystery Shopping Exercise on marketing → https://lnkd.in/d4EXtu4P • Statement on Pre-close calls → https://lnkd.in/eiSURU5h • Statistics on securities and markets → https://lnkd.in/dikUM_Ze • Call for Evidence on the review of the UCITS Eligible Assets Directive → https://lnkd.in/dcSDW78v Consultations on the MiFIR review: • on non-equity trade transparency, reasonable commercial basis and reference data  → https://lnkd.in/dC25A9pX • on Consolidated Tape Providers and other data reporting service providers → https://lnkd.in/dfdV5DFK • on commodity derivatives under MiFID review → https://lnkd.in/dYwZhs9V

European Securities and Markets Authority (ESMA) has just publishes its Newsletter (Spotlight on Markets – February & March 2024) https://lnkd.in/emuZDm-c Here are some #MiCA related information 1️⃣ ESMA published the first Final Report aiming to foster clarity and predictability, promote fair competition between #CASPs and a safer environment for investors across the Union, includes proposals on: 🔹 Information required for the authorisation of CASPs,  🔹 The information required where financial entities notify their intent to provide crypto-asset services,  🔹 Information required for the assessment of intended acquisition of a qualifying holding in a CASP, and  🔹 How CASPs should address complaints. 
 https://lnkd.in/e9RdAGmJ 2️⃣ESMA published its third consultation package under MiCA seeking input on four sets of proposed rules and guidelines, covering: 🔹Detection and reporting of suspected market abuse in crypto-assets (RTS).  🔹 Policies and procedures, including the rights of clients, for crypto- asset transfer services (Guidelines).  🔹Suitability requirements for certain crypto-asset services and format of the periodic statement for portfolio management (Guidelines).  🔹ICT operational resilience for certain entities under MiCA (Guidelines). https://lnkd.in/e3Qc84Tc

#ESMA announces its 2024 consultations: https://lnkd.in/eSpK-zXU ESMA has published a helpful table providing an overview of the consultation papers it plans to publish in 2024 encompassing a wide range of topics. The consultations will include the following: → #AIFMD (The Alternative Investment Funds Directive); 2011/61/EU. → The #UCITS (Undertakings for the Collective Investment in Transferable Securities) Directive; 2009/65/EC. → The #MiFID (Markets in Financial Instruments Directive) II; 2014/65/EU. → #MiFIR (Markets in Financial Instruments Regulation); (EU) 600/2014. → #EMIR (European Market Infrastructure Regulation) on OTC derivative transactions, central counterparties and trade repositories; 648/2012. → #MiCA (Markets in Cryptoassets) Regulation; (EU) 2023/1114. → #DORA (Digital Operational Resilience Act) on digital operational resilience for the financial sector; (EU) 2022/2554. #financialservices #compliance #regulatory #europeanunion