Friday February 15 2019
News Source: Global Disclosures
Focus: Short Selling
Country: European Union
The European Securities and Markets Authority (ESMA) have published an updated overview of the compliance by national competent authorities (NCAs) with regards to the application of ESMA guidelines in their respective jurisdictions.
Article 16(3) of Regulation 1095/2010 (ESMA Regulation) requires NCAs to inform ESMA whether they comply, intend to comply, do not comply or do not intend to comply with the various ESMA guidelines. Notification of compliance to ESMA by EEA NCAs is mandatory for all Union Acts, that have been incorporated into the EEA Agreement.
These include compliance with:
- Guidelines on the exemption for market making activities and primary market operations under Regulation (EU) 236/2012 of the European Parliament and the Council on Short Selling and certain aspects of Credit Default Swaps; and
- Guidelines on Alternative Performance Measures and Guidelines on enforcement of Financial Information under the Transparency Directive (2004/109/EC).
The following jurisdictions were reported as being non-compliant:
- Sweden; and
- The UK
Click on the above link for more information.