Central Bank of Ireland Markets Update Issue 3 2016 - 02 June 2016 Central Bank CP86: Fund Management Company Effectiveness CP99: Consultation on Amendments to the AIF Rulebook Publication of First Set of Amending Central Bank UCITS Regulations 2015 CP105: Consultation on Amendments to the Central Bank UCITS Regulations Nineteenth Edition of the AIFMD Q&A Thirteenth Edition of UCITS Q&A Market Abuse Regulation: The Central Bank has amended its website guidance on the Market Abuse Regime ESMA (European Securities and Markets Authority) ESMA publishes Final Report on MiFID II Guidelines on cross-selling practices Final Report – ESMA Guidelines on Alternative Performance Measures MiFID practices for firms selling financial instruments subject to the BRRD resolution regime Q&A on the provisions of CFDs and other speculative products to retail investors under MiFID ESMA issues Q&A on MAR implementation ESMA issues technical standards on indirect clients ESMA clarifies the reporting of reference data under MAR from 3 July 2016 ESMA proposes to amend draft MiFIR standard on transaction reporting ESMA publishes responses to the DP on draft RTS and ITS under SFTR ESMA amends MiFID II standards on non-equity transparency and position limits ESMA publishes responses to the Consultation on MAR Guidelines ESMA announces Open Hearing on MAR Guidelines ESMA adds Credit Derivatives to its Public Register on EMIR ESMA announces EU-wide stress tests for CCPs ESMA issues opinions on DK pension schemes to be exempt from central clearing under EMIR ESMA publishes Opinion on EU framework for loan origination by investment funds ESMA publishes responses to the Consultation on Guidelines on transaction reporting, reference data, order record keeping & clock synchronisation ESMA Q&As on CFDs ESMA finds room for improvement in national supervision of investment advice to retail clients ESAs finalise Key Information Documents for retail investors in the EU ESMA publishes Discussion Paper on UCITS share classes ESMA updates its Q&A document on prospectus related issues ESMA publishes updated AIFMD Q&A ESMA publishes updated UCITS Q&A ESMA issues amended rules for access, aggregation and comparison of data across trade repositories EMIR: ESMA proposes one-day margin period of risk for CCP client accounts MiFID II – ESMA: no need to temporarily exclude ETDs from open access to trading venues and CCPs ESMA updates its EMIR Q&A ESMA publishes updated Q&A on the Market Abuse Directive "MAD" ESMA publishes UCITS remuneration guidelines ESMA consults on future MAR list of information regarding commodity and spot markets EBA (European Banking Authority) EBA – consultation on asset encumbrance under CRR EBA consults on draft amending standards on CVA proxy spread 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.