Central Bank of Ireland Markets Update Issue 15 2018 - 19 November 2018 Central Bank of Ireland Notice of intention to make provision for entities to act as depositaries to AIFs as set out under Regulation 22(3)(b) of the AIFM Regulations Markets in Financial Instruments Act 2018 Central Bank statement on clearing and trading obligations Benchmarks Regulation UCITS Q&A Corporate Governance Requirements for Investment Firms and Market Operators 2018 and Feedback Statement on CP120 Central Bank publishes a revised version of the Central Bank Prospectus Handbook and a revised version of the Central Bank Transparency Guidance. Discussion Paper 8 - Outsourcing - Findings and Issues for Discussion Learning to Lead: Cultural Change, Ethical Behaviour and Consumer Protection - Derville Rowland, Director General Financial Conduct Hubs and spokes: remarks on innovation and outsourcing - Gerry Cross, Director of Policy and Risk Rapid Technology Developments and Conduct Risk – What does the Future look like through the Regulator’s Eyes.’’ - Director General Derville Rowland The Supervision of Conduct in the Funds Market – Remarks by Colm Kincaid, Director of Securities and Markets Supervision Bad Apples or Bad Barrels? How Effective Culture Mitigates Conduct Risk - Director General Derville Rowland Culture, diversity and the way forward - Deputy Governor Ed Sibley ‘Leadership, Accountability and Culture in Financial Services’ - Derville Rowland, Director General, Financial Conduct “Safeguarding the best interests of investors in a changing landscape” - Derville Rowland - Director General, Financial Conduct European Securities and Markets Authority (ESMA) ESMA highlights progress on MiFID implementation at ECON hearing MIFID II: ESMA issues latest double volume cap data SPMW's CRA registration withdrawn ESMA data analysis values EU derivatives market at €660 trillion with central clearing increasing significantly ESMA sees 1.9% increase in prospectus approvals across the EEA Speech by ESMA Chair Maijoor on IFRS 9 at Banco de Espana Conference ESAs write to EFRAG on the endorsement process of IFRS 17 insurance contracts European enforcers to focus on new IFRSs and non-financial information in issuers’ 2018 annual reports ESAs propose new amendments to technical standards on the mapping of ECAIs ESMA publishes the responses to its Consultations on Prospectus Notice of ESMA’s Product Intervention Renewal Decision in relation to contracts for differences ESMA issues clarifications on clearing and trading obligations ahead of 21 December 2018 deadline MiFID II: ESMA publishes data for the systematic internaliser calculations for equity, equity-like instruments and bonds MiFID II: ESMA makes new bond liquidity data available ESMA publishes official translations of Guidelines on MiFID II suitability requirements ESMA provides overview of NCAs’ declared compliance status with Guidelines ESMA updates its Q&As regarding the Benchmark Regulation ESMA appoints new chairs to four Standing Committees ESMA publishes the responses to its Consultation on Revised Guidelines on Periodic Reporting by CRAs ESAs consult on proposed changes to the key information document for PRIIPs ESMA proposes a regulatory change to support the Brexit preparations of counterparties to uncleared OTC derivatives ESMA renews binary options prohibition for a further three months from 2 January 2019 ESMA updates Questions and Answers on ESMA’s temporary product intervention measures ESMA launches call for evidence on periodic auctions for equity instruments ESMA asks clients of credit rating agencies and trade repositories to prepare for a no-deal Brexit MIFID II: ESMA issues latest Double Volume Cap data - 9 Nov ESMA updates Market Abuse Q&A ESMA updates its CSDR Q&As ESMA consults on future guidelines for money market funds’ disclosure ESMA provides standards and guidance for securitisation repositories under the Securitisation Regulation ESMA publishes MiFID II Supervisory Briefing on Suitability ESMA updates Q&A on Short-Selling Regulation ESMA updates its Q&As on MiFID II and MiFIR market structure and transparency topics ESMA reports on NCAs’ use of sanctions and administrative measures under MAR Please note that this Markets Update is intended to be a general summary only and does not purport to constitute an interpretation of, or the Central Bank’s position on, any of the legislative provisions, rules, requirements or guidance referenced herein. In case of any doubt, you should refer to the relevant legislative provision, rule, requirement or guidance document as applicable. The staff of the Central Bank are not authorised and cannot give you legal advice; you should seek this from your own legal advisor, if required.