Central Bank of Ireland Markets Update Issue 5 2019 - 06 June 2019 Central Bank of Ireland ESMA Guidelines on the exemption for market makers under the Short Selling Regulation Thematic Review of UCITS Performance Fee concludes with redress of €1.5 million paid to shareholders Central Bank of Ireland UCITS Regulations 2019 and Feedback Statement on CP 119 Central Bank publishes the Twenty-Sixth Edition of the Central Bank UCITS Q&A Document MiFID II – A year in review - Colm Kincaid, Director of Securities and Markets Supervision Remarks at the launch of the Irish Banking Culture Board - Director General Derville Rowland Introductory statement by Director Gerry Cross, Director of Financial Regulation - Policy and Risk, at the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach Our Strategic Workplan in Securities and Markets Supervision - Colm Kincaid, Director of Securities & Markets Supervision Opening remarks at the Central Bank Outsourcing Conference - Director General Derville Rowland How Diversity and Inclusion can contribute to successful decision making in the Funds Industry - Colm Kincaid, Director of Securities and Markets Supervision Reflections on Brexit, insights on supervision and enhancing diversity - Michael Hodson, Director of Asset Management and Investment Banking Towards Greater Transparency in Securities Lending - Colm Kincaid, Director of Securities and Markets Supervision Accountability and sustainability: key themes in financial regulation - Gerry Cross, Director Financial Regulation Policy and Risk Good Worth Working For: Driving Banks to Deliver Effective Culture - Gráinne McEvoy, Director of Consumer Protection European Securities and Markets Authority (ESMA) ESMA updates its Q&As on MiFID II and MiFIR transparency topics ESMA updates its MAR Q&A ESMA updates AIFMD Q&As ESMA Q&As clarify benchmark disclosure obligations for UCITS ESMA issues four positive opinions on national product intervention measures EU financial regulators highlight risks of a no-deal Brexit and asset price volatility ESMA launches third EU-wide CCP stress test exercise Steven Maijoor delivers key note speech at Better Finance 10th Anniversary Conference ESMA issues first pan-EU overview of use of supervisory sanctions for UCITS ESMA publishes MiFID II Supervisory Briefing on Appropriateness and Execution-only ESMA updates register of derivatives to be traded on-venue under MiFIR ESMA has adopted new recognition decisions for the three UK CCPs and the UK CSD in the event of a no-deal Brexit on 12 April ESMA publishes translations for Guidelines on CCP conflict of interest management ESMA publishes responses to its Consultation on liquidity stress test guidelines for investment funds ESMA updates on the impact on its databases and IT systems of a no-deal Brexit scenario on 12 April 2019 The Joint Committee of the ESAs publishes its 2018 Annual Report ESMA updates Q&A on MiFIR data reporting ESAs publish Joint Advice on Information and Communication Technology risk management and cybersecurity ESMA update on no-deal Brexit preparations ESMA publishes translations for Guidelines on CCP APC Margin Measures ESMA updates publication schedule for transparency calculations in May and June 2019 ESMA publishes translations for CSDR Guidelines on internalised settlement reporting Notice of ESMA’s Product Intervention Renewal Decision in relation to contracts for differences ESMA agrees position limits under MiFiD II MiFID II: ESMA delays the publication of the systematic internaliser regime data for equity, equity-like instruments and bonds MiFID II: ESMA makes new bond liquidity data available ESMA submits technical advice on Sustainable Finance to the European Commission MiFID II: ESMA issues latest double volume cap data MiFID II: ESMA publishes data for the systematic internaliser calculations for equity, equity-like instruments and bonds ESMA issues two positive opinions on national product intervention measures ESMA says market risk remains high but stable Working group on Euro risk-free rates launches consultation on EONIA to €STR transition ESMA publishes translations for Guidelines on the application of the endorsement regime for CRAs ESAs publish amended technical standards on the mapping of ECAIs under the Capital Requirements Regulation ESAs launch consultation on technical standards on the reporting of intra-group transactions and risk concentration for Financial Conglomerates ESMA appoints chair for its new Coordination Network on Sustainability ESMA updates its Q&As regarding the Benchmark Regulation ESMA updates the CSDR Q&As ESMA consults on indices and recognised exchanges under the Capital Requirements Regulation ESMA launches call for evidence on position limits in commodity derivatives ESMA updates its opinion on ancillary activity calculations ESMA updates its Questions and Answers on the Securitisation Regulation ESMA consults on future reporting guidelines under SFTR ESMA consults on periodic reporting rules for trade repositories ESMA registers Inbonis SA as credit rating agency ESMA consults on tiering, comparable compliance and fees under EMIR 2.2 ESMA updates European Markets Infrastructure Regulation (EMIR) Q&A ESMA issues five positive opinions on national product intervention measures ESMA adjusts application of the trading obligation for shares in a no-deal Brexit ESMA updates Q&AS on MiFID II and MiFIR investor protection and intermediaries ESMA publishes a supervisory briefing on pre-trade transparency requirements in commodity derivatives ESMA launches a Common Supervisory Action with NCAs on MiFID II appropriateness rules ESMA updates MiFID Q&As on transparency issues ESMA seeks investor protection experts for stakeholder panel ESMA publishes updated AIFMD and UCITS Q&AS ESMA publishes translations for Guidelines on the application of C6 and C7 of Annex 1 of MiFID II International Organization of Securities Commissions (IOSCO) IOSCO requests feedback on key considerations for regulating crypto-asset trading platforms IOSCO examines regulatory-driven market fragmentation and considers how to enhance cross-border cooperation Emerging Market regulators issue recommendations related to sustainable finance 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.