Central Bank of Ireland Markets Update Issue 2 2021 - 02 February 2021 Central Bank of Ireland Central Bank updates its communication on regulatory flexibility for Securities Markets, Investment Management, Investment Firms and Fund Service Providers Central Bank of Ireland response to the European Commission’s public consultation on the review of the Alternative Investment Fund Managers Directive Statement on margining and clearing requirements under EMIR Central Bank of Ireland publishes Feedback Statement on Consultation Paper 132 and final Guidance on share class features of closed-ended QIAIFS Central Bank of Ireland publishes QA relating to authorisation of DAoFI and scope of defined term in AIF Rulebook The Central Bank clarifies its expectations in respect of the European Single Electronic Format (ESEF) Regulation Ready for change: The new prudential regime for Investment Firms - Gerry Cross, Director of Policy & Risk and Asset Management and Investment Banks (Interim) Central Bank of Ireland establishes a new framework for authorisation of AIF depositaries under Regulation 22(3) (b) of the AIFM Regulations European Securities and Markets Authority (ESMA) ESMA publishes report on proposed fees for Benchmarks Administrators ESMA finalises rules on standardised information to facilitate cross-border distribution of funds ESMA launches a Common Supervisory Action with NCAs on MiFID II product governance rules ESMA consults on changes to CRA supervisory fees ESAs consult to amend technical standards on the mapping of ECAIs’ credit assessments ESMA calls for legislative action on ESG ratings and assessment tools ESMA consults on appropriateness and execution-only under MiFID II ESMA supports the endorsement of IFRS 17 insurance contracts ESMA updated EMIR Q&As ESMA updated its Q&As relating to the Prospectus Regulation ESMA updated SFTR Q&A’s ESMA reports on the resources and staffing it will need to apply new rules for third-country firms under MiFIR ESMA updates Guidelines on written agreements between CCP college members 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.