Chlorpyrifos: assessment identifies human health effects

The pesticide chlorpyrifos does not meet the criteria required by legislation for the renewal of its approval in the European Union, EFSA has said in a statement.

The approval period for chlorpyrifos expires in January 2020, and the manufacturers’ application for renewal is currently being evaluated under the EU’s peer review system for approval of pesticides.

Although the peer review is not yet fully completed, the European Commission asked EFSA to provide a statement on the available results of the human health assessment. EFSA has identified concerns about possible genotoxic effects as well as neurological effects during development, supported by epidemiological data indicating effects in children.

This means that no safe exposure level ­– or toxicological reference value – can be set for the substance.




Chlorpyrifos: assessment identifies human health effects

The pesticide chlorpyrifos does not meet the criteria required by legislation for the renewal of its approval in the European Union, EFSA has said in a statement.

The approval period for chlorpyrifos expires in January 2020, and the manufacturers’ application for renewal is currently being evaluated under the EU’s peer review system for approval of pesticides.

Although the peer review is not yet fully completed, the European Commission asked EFSA to provide a statement on the available results of the human health assessment. EFSA has identified concerns about possible genotoxic effects as well as neurological effects during development, supported by epidemiological data indicating effects in children.

This means that no safe exposure level ­– or toxicological reference value – can be set for the substance.




MiFID II: ESMA makes new bond liquidity data available

ESMA has started today to make available the latest quarterly liquidity assessment for bonds available for trading on EU trading venues. For this period, there are currently 594 liquid bonds subject to MiFID II transparency requirements.

ESMA’s liquidity assessment for bonds is based on a quarterly assessment of quantitative liquidity criteria, which include the daily average trading activity (trades and notional amount) and percentage of days traded per quarter. ESMA updates the bond market liquidity assessments quarterly. However, additional data and corrections submitted to ESMA may result in further updates within each quarter, published in ESMA’s Financial Instruments Transparency System (FITRS), which shall be applicable the day following publication.  

The full list of assessed bonds will be available through FITRS in the XML files with publication date from 1 August 2019 (link available here) and through the Register web interface.  

As communicated on 27 September 2018, ESMA is also publishing two completeness indicators related to bond liquidity data.

Background

MiFID II became applicable on 3 January 2018 introducing, amongst others, pre- and post-trade transparency requirements for equity and non-equity instruments, including for bonds. Post-trade, MiFID II requires real-time publication of the price and quantity of trades in liquid bonds. It is possible to defer the publication of post-trade reports if the instrument does not have a liquid market, or if the transaction size is above large-in-scale thresholds (LIS), or above a size specific to the instrument (SSTI). In order to assist market participants to know whether a bond should be considered as liquid or not, ESMA publishes these quarterly liquidity assessments for bonds.

Next steps

The transparency requirements for bonds deemed liquid today will apply from 16 August to 15 November 2019. 




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

More specifically, ESMA has published the total number of trades and total volume over the period January-June 2019 for the purpose of the systematic internaliser (SI) calculations for 22,961 equity and equity-like instruments and for 333,459 bonds. 

The results are published only for instruments for which trading venues submitted data for at least 95% of all trading days over the 6-month observation period. The data publications also incorporate OTC trading to the extent it has been reported to ESMA. The publication includes data also for instruments which are no longer available for trading on EU trading venues at the end of December.

The publication of the data for the SI calculations for derivatives and other instruments has been delayed until 2020 at the latest, as set out in the updated plan announced by ESMA on 30 January 2019. The SI-assessment for those asset classes does not need to be performed until 2020 at the latest.

Background

According to Article 4(1)(20) of Directive 2014/65/EU (MiFID II) investment firms dealing on own account when executing client orders over the counter (OTC) on an organised, frequent systematic and substantial basis are subject to the mandatory SI regime.

Commission Delegated Regulation (EU) No 2017/565 specifies thresholds determining what constitutes frequent, systematic and substantial OTC trading. In particular, investment firms are required to assess whether they are SIs in a specific instrument (for equity and equity-like instruments, bonds, ETCs and ETNs and SFPs) or for a (sub-) class of instruments (for derivatives, securitised derivatives and emission allowances) on a quarterly basis based on data from the previous six months. For each specific instrument/sub-class, an investment firm is required to compare the trading it undertakes on its own account compared to the total volume and number of transactions executed in the European Union (EU). If the investment firm exceeds the relative thresholds it will be deemed an SI and will have to fulfil the SI-specific obligations. ESMA, upon request of market participants and on a voluntary basis, decided to compute the total volume and number of transactions executed in the EU in order to help market participants in the performance of the test since that data is essential for the operation of the SI regime and is not otherwise easily available. 




European Roma Holocaust Memorial Day: Statement by First Vice-President Timmermans and Commissioner Jourová

“Ahead of the Roma Holocaust Memorial Day, we pay tribute to the 500,000 Roma victims of the Holocaust. This year in particular, we commemorate with deep sadness the 75th anniversary of the murder of the last Roma who were so wrongly and brutally incarcerated in the ‘Gypsy Family Camp’ in Auschwitz – people who were put to death just for being who they were.

There is no place in our modern European societies and political discourse for the dehumanisation of the Roma or any other minority groups. The atrocities of the past stand as a reminder that equality and non-discrimination are values which cannot be taken as given: upholding them requires our constant attention and readiness to challenge those who would attack them.

75 years have passed, but we do not forget. The memory of the horrors of the past must inspire us all to stand up for the values we believe in. To see every one of our fellow citizens as themselves, as individuals, and to wonder how we would feel if we were them. That is the lesson we have learned from our parents and grand-parents who experienced the darkest of times. So together with our Member States and local communities, we will continue to fight against all forms of racism and ethnic discrimination, here in Europe and worldwide.

We call on all Member States to recognise the Roma Holocaust and to remember 2 August as the Roma Holocaust Memorial Day across the EU.”

Background

In 2015, the European Parliament declared 2 August as the annual “European Roma Holocaust Memorial Day” to commemorate the 500,000 Roma – representing at least a quarter of their total population at that time– murdered in Nazi-occupied Europe.

On 2 August 2019, Commissioner for Justice, Consumers and Gender Equality Věra Jourová will join the commemoration ceremony in Auschwitz-Birkenau to mark the 75th anniversary of the extermination of the last remaining Roma in the concentration camp of Auschwitz-Birkenau. The commemoration ceremony, held by the Central Council of German Sinti and Roma, with the Association of Roma in Poland and in cooperation with the Auschwitz-Birkenau State Museum, brings together more than 1,500 Romani people from all over Europe. Representatives from governments, delegations, international organisations and civil society will also attend the event.

In May 1944, the Nazis started to plan the “Final Solution” for the “Gypsy Family Camp” in Auschwitz. The initial date for the liquidation of the “Gypsy camp” was planned for 16 May 1944. When the SS tried to force the prisoners out of the barracks they faced a rebellion of Roma men, women and children, armed with nothing but sticks, tools and stones, and eventually the SS had to withdraw. Then, on 2 August 1944, the order came again and some 3,000 Roma men, women, and children were exterminated in the gas chambers of Auschwitz-Birkenau. An estimated 19,000 of the 23,000 Roma sent to Auschwitz died there.

The European institutions and every EU country have a joint responsibility to fight discrimination and antigypsyism, and to improve the integration of Roma. In 2011, the European Commission called for national strategies for Roma integration. The 2017 midterm review took stock of the progress since the launch of the EU framework (see press release).

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