ESMA, in order to ensure a level playing field across EMIR and SFTR, is also proposing some changes to the way ESMA’s fees for TRs are calculated under the European Market Infrastructure Regulation (EMIR).

TRs have to pay fees on specific administrative actions such as registration, extension of registration or recognition, and an annual fee for on-going supervision which is proportionate to the level of turnover of the TRs. ESMA also advises to simplify the way of determining the turnover of TRs for the purposes of calculating the annual supervisory fees by including revenues only and excluding activity figures.

ESMA also proposes lower fees in the case of extension of registration under SFTR, or in the case of concurrent application under both regimes. ESMA has also proposed the calculation of fees for recognition of third country TRs and the reimbursement of the cost to NCAs in the case of delegation of tasks. 

Federica Mogherini, the High Representative for Foreign Affairs and Security Policy/Vice-President of the European Commission (HR/VP), is today and tomorrow on an official visit to New Delhi and met with the Prime Minister of India, Mr Narendra Modi. HR/VP Mogherini also met with the Minister of External Affairs, Smt. Sushma Swaraj, and with the Minister of State for External Affairs, Mr. M J Akbar.

During the talks the two sides discussed in depth a broad range of issues of common interest. The European Union and India are natural partners, they share fundamental values of democracy and diversity, economic interests and robust trade relations, common security challenges, and a direct interest in the stabilisation of many fragile areas, from the Korean Peninsula to Afghanistan. 

The EU and India expressed their common interest and commitment to strengthen their cooperation on the world stage, both bilaterally and in multilateral fora, on common priorities such as multilateralism, climate change, sustainable development, free and fair trade, security and defence – notably on maritime security – and counterterrorism.

In view of the 14th bilateral India-EU Summit to be held later this year in New Delhi, the European Union and India agreed to further strengthen and deepen their bilateral relations. In particular, taking stock of progress made on decisions taken last year at the 13th EU-India Summit in Brussels, it has been agreed to deepen cooperation in foreign policy, security and defence, trade, investments, climate change, water, new and renewable energy, environment, ICT, space, research and technology, urbanisation, and to strengthen people-to-people contacts, including student exchanges through the Erasmus programme.

During her visit, Mogherini opened the EU@60 Treaty of Rome Exhibition at the Italian Institute of Culture. This year, the EU celebrates the 60th anniversary of the Treaties of Rome, which paved the way for the European Union that we know today: a reunited continent of peace, founded on the values of solidarity, democracy and the rule of law. 

ESMA, in order to ensure a level playing field across EMIR and SFTR, is also proposing some changes to the way ESMA’s fees for TRs are calculated under the European Market Infrastructure Regulation (EMIR).

TRs have to pay fees on specific administrative actions such as registration, extension of registration or recognition, and an annual fee for on-going supervision which is proportionate to the level of turnover of the TRs. ESMA also advises to simplify the way of determining the turnover of TRs for the purposes of calculating the annual supervisory fees by including revenues only and excluding activity figures.

ESMA also proposes lower fees in the case of extension of registration under SFTR, or in the case of concurrent application under both regimes. ESMA has also proposed the calculation of fees for recognition of third country TRs and the reimbursement of the cost to NCAs in the case of delegation of tasks.