Central Bank of Ireland Markets Update Issue 3 2021 - 19 February 2021 Central Bank of Ireland Central Bank updates Q&A on the payment of distributions and variable remuneration by investment firms and market operators during the COVID-19 pandemic Central Bank of Ireland publishes Securities Markets Risk Outlook Report 2021 European Securities and Markets Authority (ESMA) ESMA highlights risks to retail investors of social media driven share trading ESMA submits IFRS 9 and IAS 20 related questions to IFRS Interpretations Committee ESMA calls for fund experts to join consultative stakeholder group ESMA withdraws the registrations of Fitch entities following mergers with Fitch Ratings Ireland The three European Supervisory Authorities publish Final Report and draft RTS on disclosures under SFDR EIOPA’s Board of Supervisors agrees on changes to the PRIIPs key information document ESMA updates Q&As on MiFID II and MiFIR market structures topics ESMA provides input to the Commission on improvements for ELTIF ESMA calls experts on post trading to join consultative industry group ESMA publishes Annual Report on the application of waivers and deferrals for equity instruments 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.