Central Bank of Ireland Markets Update Issue 3 2022 - 27 April 2022 Central Bank of Ireland The Central Bank revises Guidance on the Transparency Regulatory Framework to reflect requirements stemming from the ESEF Regulation Supervisory Statement on the application of the Sustainable Finance Disclosure Regulation The Central Bank publishes MiFID Structured Retail Product Review industry letter “The role of financial regulation in building resilience, anticipating risk, and protecting citizens – in steady times and through shocks” - Speech by Director General, Financial Conduct, Derville Rowland Opening Statement by Gerry Cross, Director, Financial Regulation - Policy & Risk at Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach 'Changing individual behaviour and culture in financial services' - Speech by Director General, Financial Conduct Derville Rowland "The importance of effective governance, culture, and agility in a changing environment" - Remarks by Derville Rowland, Director General Financial Conduct, at the Institute of Banking/Compliance Institute seminar European Markets and Securities Authority (ESMA) ESMA postpones the annual calculations of LIS and SSTI for bonds and the quarterly bonds liquidity assessment ESAs publish joint annual report for 2021 ESAs see recovery stalling amid existing and new risks ESMA publishes complementary annual transparency calculations ESMA responds to European Commission consultation on EMIR Review ESG funds provided better returns for investors in 2020 ESMA publishes its final report on the review of the short selling regulation ESMA seeks experts in sustainable finance for its new consultative working group New Questions and Answers available ESMA postpones RTS 2 Annual Review ESMA sees EMIR and SFTR data quality improve following coordinated actions ESMA makes available ISINs before second publication of annual transparency calculations ESMA publishes follow-up report to the peer review on the guidelines on the enforcement of financial information ESMA and NCAs find room for improvement in funds’ liquidity stress testing ESMA issues its 2021 corporate reporting enforcement and regulatory report ESMA makes recommendations for DRSP management bodies ESMA proposes amendments on the review of transparency requirements under MiFIR Actively managed funds fail to outperform benchmarks during market stress ESMA publishes its final report on the EU Carbon Market ESMA updates on third-country CCPs recognition decisions ESMA extends UK CCPs’ recognition decisions ESMA fines REGIS-TR €186,000 for EMIR data breaches EU financial regulators warn consumers on the risks of crypto-assets ESMA published its assessment and recommendations on the EC’s MiFIR review proposal ESMA coordinates regulatory response to the war in Ukraine and its impact on EU financial markets ESMA finds shortcomings in supervision of cross-border investment activities and issues specific recommendations to CYSEC ESMA makes available the results of the annual transparency calculations for equity and equity-like 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.