November 21, 2019 Website

Temporary unavailability of online services on Saturday 23 November

This Saturday 23 November, the EUIPO website and e-filing tools will have limited functionality from 08:00 – 12:00 CET. Other e-business applications will be unavailable.

The EUIPN portal will also be unavailable during that time. This is to allow maintenance work to be performed on the website.

We apologise in advance for any inconvenience this might cause to our users.

 

​The implementation of Free Trade Agreements (FTAs) is one of the topics in discussion today during the Foreign Affairs Council. EUROCHAMBRES and the European Committee of the Regions urge that the recommendations on how to boost uptake of FTA be taken into consideration.

Early this week, during the workshop: making EU Trade Agreements work to the benefit of businesses and regions, EUROCHAMBRES and the European Committee of the Regions released the results of a joint survey to identify opportunities and obstacles faced in the implementation of EU FTAs.

According to the key findings of the survey, FTA remain an attractive force for business and regions, but more practical information and better guidance is needed on the implementation of EU’s FTA. Some core components of FTAs, such as burdensome customs procedures or administrative burdens should be simplified.

Based on the results of the survey, the following recommendation were released:

1. Addressing the implementation gap through dedicated trade implementation action plans that accompany mayor EU FTAs. This means improving the dialogue and partnership between the business community, national and regional policy makers to identify the most effective measures are needed in each member state;

2. Improving members states’ support, which was found to lag behind expectations of business and regional actors and create an overview of actions taken to support SMEs when implementing FTAs;

3. Addressing the knowledge gap surrounding EU FTAs by providing practical information how SMEs can make use of a given FTA in practice;

4. Reducing the complexity and lack of coherence of the EU’s rules of origin, provide better access to information and means of participation in public procurement abroad.

5. Providing an online rules of origin calculator for SMEs as first line of support.

6. Creating a trade agreement implementation officer at EU representations in EU member states to ensure that stakeholders have a direct point of contact from the EU;

7. Inviting member states and regional authorities to seek stronger cooperation with national and regional Chambers to capitalize on their experience – given their role in helping businesses – especially SMEs – go global;

8. Increasing FTA awareness to be paired with other policy solutions in order to boost FTA uptake and define the competitiveness of regions and SMEs. There are a number of national and European programmes to support internationalisation, research and innovation, but it is also necessary to create the right conditions for businesses.

More information:

Report of the survey on the implementation of FTA: http://bit.ly/SurveyTrade

The Press Release of the survey: http://bit.ly/PR_TradeSurvey

15 November 

ESMA updates its Q&As on the Securitisation Regulation

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has updated its Questions and Answers (Q&As) on the Securitisation Regulation (Regulation 2017/2402).

14 November

DG International Ratings SRL’s CRA registration withdrawn

The European Securities and Markets Authority (ESMA) has withdrawn the credit rating agency (CRA) registration of DG International Ratings SRL (previously Dagong Europe Credit Rating Srl) (DG International).

11 November

ESMA advises EC on the supervisory regime for third-country CCPs

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published three sets of technical advice to the European Commission (EC) regarding third-country central counterparties (TC-CCPs) under the revised European Market Infrastructure Regulation (EMIR 2.2).

08 November

MiFID II: ESMA publishes data for the systematic internaliser calculations for equity, equity-like instruments and bonds

The European Securities and Markets Authority (ESMA) has published data for the systematic internaliser calculations for equity, equity-like instruments and bondsunder the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).

08 November 

MiFID II: ESMA makes new bond liquidity data available

The European Securities and Markets Authority (ESMA) has started to make available new data for bonds subject to the pre- and post-trade requirements of the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR) through its data register.

08 November 

MIFID II: ESMA ISSUES LATEST DOUBLE VOLUME CAP DATA

The European Securities and Markets Authority (ESMA) has updated today its public registerwith the latest set of double volume cap (DVC) data under the Markets in Financial Instruments Directive (MiFID II).

05 November

MiFID II: ESMA consults on position limits in commodity derivatives

The European Securities and Markets Authority (ESMA) has today launched a Consultation Paperon position limits and position management in commodity derivatives.

04 November

Opening Statement by ESMA Chair Steven Maijoor at ECON Hearing

ESMA Chair Steven Maijoor participated today in the annual hearing of European Parliament’s Economic and Monetary Affairs Committee (ECON), together with the Chairmen of the European Banking (EBA) and European Occupational Pensions Authority (EIOPA).

31 October 

ESMA publishes validation rules and XML schemas for SFTR reporting

The European Securities and Markets Authority (ESMA) has published today further technical details for the reporting of Securities Financing Transactions (SFTs) as required under the SFT Regulation (SFTR).

31 October 

ESMA report sees decrease in prospectus activity for 2018

The European Securities and Markets Authority (ESMA), in its annual report on prospectus activity, reports that in 2018 the number of prospectus approvals across the European Economic Area (EEA) decreased by almost 5% compared to 2017 (from 3,567 to 3,390). This decrease in prospectus approvals follows a decade-long trend observed since the start of the financial crisis.

30 October 

ESMA update on Brexit preparations

The European Securities and Markets Authority (ESMA) wants to inform stakeholders that, following the European Council’s decision today extending the period under Article 50(3) relating to the United Kingdom’s (UK) withdrawal from the European Union (EU), its previous statements relating to its preparations for a no-deal Brexit will no longer apply as of 31 October.

30 October

MiFID II – New Publication Date for Systematic Internaliser and Bond Data

The European Securities and Markets Authority (ESMA) will publish the systematic internaliser (SI) and bond market liquidity data on 8 November, this follows the latest developments around the departure of the United Kingdom (UK) from the European Union (EU).

29 October

Steven Maijoor delivers speech on Benchmarks in Madrid

Steven Maijoor, Chair of the European Securities and Markets Authority (ESMA), has delivered a speech on the Benchmarks Regulation, and related issues, at a conference organised by the Comisión Nacional del Mercado de Valores (CNMV) in Madrid.

24 October

ESAs seek to promote consistent application of the PRIIPs Regulation to bonds

The European Supervisory Authorities (ESAs) have issued a Supervisory Statement in order to promote a consistent application by national competent authorities (NCAs) of the scope of the Regulation for packaged retail and insurance-based investment products (PRIIPs Regulation) to bond markets.

22 October

EU enforcers must monitor closely new reporting standards

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, publishes the priorities that European enforcers will consider when examining the 2019 annual financial reports of listed companies. The 2019 enforcement priorities reflect the changes introduced in recent financial reporting standards and consider issues identified by national competent authorities (NCAs) through their enforcement activities in 2019.

20 October

ESMA AND THE AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION TO COOPERATE ON BENCHMARKS

The European Securities and Markets Authority (ESMA) and the Australian Securities and Investments Commission (ASIC) are pleased to announce that they have signed a Memorandum of Understanding (MoU)setting out cooperation arrangements in respect of Australian benchmarks.

17 October  

ESMA sees significant room for improvement in national regulators’ supervision of derivatives data

The European Securities and Markets Authority (ESMA) has published the results of a peer reviewit conducted into supervisory actions of six National Competent Authorities (NCAs) regarding their approaches at enhancing the quality of derivative data reported under the European Market Infrastructure Regulation (EMIR).

16 October 

ESAs consult on changes to the key information document for PRIIPs

The European Supervisory Authorities (ESAs) have issued a Consultation Paperon amendments to existing rules underpinning the Key Information Document (KID) for Packaged Retail and Insurance-based Investment Products (PRIIPs).

15 October

Steven Maijoor speech on the quality of coporate governance

The ESMA Chair Steven Maijoor delivered a speech on the quality of corporate governance at the Corporate Governance Conference in Zagreb.

10 October

Steven Maijoor addresses EU-Asia Financial Dialogue at ASIFMA Annual Conference 2019, Tokyo

Steven Maijoor, Chair of the European Securities and Markets Authority (ESMA), addressed the EU-Asia Financial Dialogue as part of ASIFMA’s Annual Conference 2019 in Tokyo.

09 October

ESMA publishes Annual Report on the application of waivers and deferrals under MiFIR

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published its Annual Report on the application of waivers and deferrals under MiFIR.

08 October

ESMA adopts MAR standards on supervisory cooperation

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has issued its final reporton a set of Regulatory Technical Standards (RTS) on the application of the Market Abuse Regulation (MAR).

08 October

ESMA publishes final report on CSDR Guidelines on standardised procedures and messaging protocols

The European Securities and Markets Authority (ESMA) has published its final report on the Guidelines on standardised procedures and messaging protocols. The Guidelines aim to clarify the scope of the requirement contained in Article 6(2) of the Central Securities Depositories Regulation (CSDR) and provide guidance on the standardised procedures and messaging standards used for compliance.

07 October 

​MIFID II: ESMA ISSUES LATEST DOUBLE VOLUME CAP DATA

The European Securities and Markets Authority (ESMA) has updated today its public register with the latest set of double volume cap (DVC) data under the Markets in Financial Instruments Directive (MiFID II).

07 October

ESMA updates Q&A on MiFIR data reporting

The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers on data reporting under the Market in Financial Instruments Regulation (MiFIR).

07 October

ESMA – Update on the UK’s withdrawal from the European Union – preparations for a possible no-deal Brexit scenario on 31 October 2019

On 29 March 2017, the United Kingdom of Great Britain and Northern Ireland (UK) invoked Article 50 of the Treaty on European Union (TEU) which triggered the process for its withdrawal from the European Union (EU), or Brexit. The invocation procedure provides that after a negotiation period of up to two years, the TEU cease to apply to the Member State which invoked Article 50. 

​The Hague, 4 November 2019

With the support of Eurojust and Europol, after a joint action day last week, 19 key suspects, the alleged heads of an organised crime group (OCG) suspected of large-scale drug trafficking from Ivory Coast and Nigeria to Italy, were arrested in Italy and several other European countries in execution of European Arrest Warrants (EAWs). During the course of the investigation, 150 suspects were arrested. The network of intermediate suppliers used false bottoms in shoes and suitcases, and hidden pockets in clothing, to smuggle heroin (and other drugs) to the south of Italy. In total, 230 kg of heroin, 20 kg of cocaine and 2 kg of MDMA were seized.

The suspects apprehended in Italy raised no suspicions, as they lived a modest life, working as local entrepreneurs. An integral part of the OCG was made up of people who sewed hiding places for the drugs. Their labour was so important that they were paid more than US$ 1 000 for each suitcase. The trafficked narcotics were sometimes treated with spices to render them undetectable to drug-sniffing dogs and also undetectable via x-ray. The couriers were also undetectable, as they were never in contact with the drugs.

Photo © Shutterstock

The couriers departed directly from the places of production of narcotics, such as East Africa, Pakistan, China, Laos and Latin America (cocaine in various forms: paste, liquid and powder). After the first seizures, the drugs, still coming from those countries, were stored in Tanzania, South Africa and Brazil. From these countries, the drugs were transported to northern Europe, reaching Italy using the most diverse transportation means. Subsequently, the OCG began to use European couriers.

National authorities

IT: The investigations were directed by the Public Prosecutor’s Office (PPO) Anti-Mafia Directorate of the District of Perugia, supported by the Carabinieri of Perugia and assisted by the Service for the International Cooperation of Police – Division SI.RE.NE.

20 November 2019

An organised crime group (OCG) involved in investment fraud and market manipulation has been dismantled. An estimated 400 victims were defrauded of approximately EUR 16 million. In an action day yesterday, more than 100 simultaneous searches were carried out in Germany, Austria, Greece, Switzerland and Liechtenstein, and four arrest warrants were executed. A coordination centre at Eurojust in The Hague allowed for real-time exchange of information and enabled the immediate execution of measures, including the arrests, searches and seizures.

The OCG ran call centres and contacted potential victims, offering them shares in worthless stocks. Since 2017, the Public Prosecutor’s Office of Düsseldorf, Germany, is leading an investigation into the OCG. They asked for the assistance of Eurojust in the execution of related European Investigation Orders, Letters of Request and European Arrest Warrants.