ESMA updates Q&As on MiFID II and MiFIR market structures topics

The Q&As provide clarification on:

  • The classification of DEA trades; and
  • Matched Principal Trading by investment firms.

The purpose of these Q&As is to promote common supervisory approaches and practices in the application of MiFID II and MiFIR. They provide responses to questions addressed by the general public and market participants in relation to the practical application of level 1 and level 2 provisions for transparency and market structures topics.

ESMA will continue to develop these Q&As in the coming months and will review and update them where required.




Press release – EU-UK deal: next steps in Parliament’s scrutiny

The two lead committees, responsible for recommending consent (or not) to the European Parliament on the new EU-UK trade and cooperation agreement, will assess each sector of the deal with the specialised committees providing opinions.

Watch the meeting live here (4 February, 13:45-15:45)

Next steps

Once the Foreign Affairs and International Trade committees have approved their recommendation, the full House is set to vote before its provisional application lapses.

Separately, Parliament will also vote on an accompanying resolution, outlining its political position, prepared by the political groups in the UK Coordination Group and the Conference of Presidents.

Background

The new Trade and Cooperation Agreement has provisionally applied since 1 January 2021. For it to enter into force permanently, it requires Parliament’s consent. Parliament has repeatedly stated that it considers the current provisional application to be the result of a unique set of circumstances and an exercise not to be repeated.




Press release – Beating cancer: MEPs react to the EU Plan for joint action

BECA Chair Bartosz Arłukowicz (EPP, PL) said: “Over the last few years, fighting cancer has been high on the Parliament’s agenda, culminating in setting up our Special Committee on Beating Cancer. In the midst of the COVID-19 pandemic, we cannot forget about the disease that kills 1.3 million Europeans every year, and for which there is no vaccination that can eliminate it altogether.”

Responding to the Plan unveiled today by the European Commission: “We want to undertake the enormous task of beating cancer together, as a Union. Shared knowledge and databases, support for screening programmes, co-financing of HPV vaccinations, are among the many steps we will not hesitate to take on our path to finally beating cancer. We must embark on this ambitious project together. Our Union can beat cancer!” concluded Arłukowicz.

BECA Rapporteur Véronique Trillet-Lenoir (Renew Europe, FR) said: “Cancer is a disease underpinned by social injustice. We are unequal in terms of prevention, unequally protected against environmental carcinogens, unequally educated in what constitutes risky behaviour, unequally armed against disinformation. EU countries have unequal access to quality care. Finally, once we have recovered from illness, we are not all able to return to work, to be financially independent and to lead a harmonious social and private life. For all these reasons, I fully support the establishment of a Cancer Inequalities Registry to identify challenges and specific areas of action at EU and national levels”.

“More than 40% of all cancers are preventable if individual, social, environmental and commercial health risk factors are addressed. Ambitious legislative proposals to reduce tobacco and alcohol consumption, to promote a healthy diet and physical activity are steps in the right direction. We should propose stronger measures and clear targets to fight against environmental pollution, to ensure health and safety at work, to limit the exposure to carcinogens and mutagens and to take into account the cumulative effect of hazardous chemicals, Trillet-Lenoir added.

First debate on the Plan

On World Cancer Day, 4 February, the Special Committee on Beating Cancer will discuss the plan with Health Commissioner Kyriakides from 16.45 to 18.45 (live streaming).

Background

The EU Cancer Plan is structured around four key areas: prevention, early detection, diagnosis and treatment, and improving quality of life. There are multiple supporting actions, along ten flagship initiatives.

The EU budget has earmarked €4 billion to address cancer, including from the EU4Health programme, Horizon Europe and the Digital Europe programme.




ESMA provides input to the Commission on improvements for ELTIF

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, today sent a letter to the European Commission consultation on the review of the European Long Term Investment Funds (ELTIF) Regulation. ESMA highlights the key topics of the ELTIF review where we see the need to consider amendments to this framework.

In order to increase use of the ELTIF framework, ESMA proposes changes aimed at bringing ELTIFs more in line with the needs of investors (both retail and professional). This would make it a more attractive investment vehicle for professional investors, as well as a potential savings’ placement alternative for retail investors, further improving the access to funding for SMEs and enable the ELTIF framework to achieve its purpose of assisting in the recovery of the European economy and in the deepening of the Capital Markets Union.

In the letter, ESMA proposes amendments in the following areas:

  • Eligible assets and investments;
  • Authorisation process;
  • Portfolio composition and diversification;
  • Redemptions; and
  • Prospectus and cost disclosure.

The creation of the ELTIF legal framework was aimed at increasing European long-term investments in the real economy, such as infrastructure projects, real estate and listed and unlisted SMEs.

Next steps

Following the consultation of ESMA and stakeholders, the Commission is expected to submit to the EU Parliament and Council a report assessing the functioning of ELTIFs in the context of the CMU project and suggesting a review of the ELTIF Regulation. ESMA is ready to assist the Commission in revising the ELTIF framework.




European Cooperation: virtual Technical Visits with EU IP Offices

February 03, 2021 EU Intellectual Property Network

European Cooperation: virtual Technical Visits with EU IP Offices

The biannual European Cooperation technical visits are taking place between 1-19 February 2021, in a virtual format.

Technical visits are a key component of the collaborative work carried out between the EUIPO and the national and regional EU IP offices, which, in turn, benefit users and help build a stronger IP system in the EU.

During the meetings, the EUIPO and 29 national and regional EU IP offices will discuss the European Cooperation Projects’ progress and next steps and the roadmap for future initiatives in support of small and medium-sized enterprises (SMEs).

An update on the status of the various initiatives in support of SMEs (e.g. the SME FUND) will also be on the agenda.

The meetings are an important driver for the development and sustainability of the European Cooperation Projects within the SP2025.

The next round of technical visits will take place in September 2021.