Central Bank of Ireland Markets Update Issue 4 2018 - 15 February 2018 Central Bank of Ireland Central Bank communication to firms seeking authorisation in 2018 Enhancements to the Regulated Disclosures Submission Process - Update Survey for the European Commission on the Alternative Investment Fund Managers Directive European Systemic Risk Board (ESRB) ESRB Recommendation on leverage and liquidity in investment funds European Securities and Markets Authority (ESMA) ESMA publishes translations for Guidelines on MiFID II product governance requirements ESMA draws issuers’ attention to IAS requirements following introduction of new tax legislation in the US ESMA updates equity transparency calculations and tick sizes band assessment for MiFID II/ MiFIR ESMA publishes results of the second EU-wide CCP stress test ESMA updates Q&As on the Benchmarks Regulation ESMA updates its Q&A on short selling ESMA Updates Q&A on EMIR Implementation ESMA publishes the responses to its Consultation on position calculation under EMIR ESMA provides standards on supervisory cooperation for market abuse investigations ESMA updates its CSDR Q&As ESMA publishes the responses to its Consultation on proposed amendment to MiFID II RTS 1 ESMA publishes 2018 Supervisory Convergence Work Programme ESMA updates its MiFID II Q&As on transparency and market structures ESMA issues conflict of interest guidelines for CCPs ESMA publishes 2018 Work Programme for CRAs, trade repositories and third country CCPs ESMA publishes risk assessment work programme for 2018 ESAs warn consumers of risks in buying virtual currencies ESMA launches Interactive Single Rulebook 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.