ESMA publishes updates to EMIR Q&As

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today updated its Questions and Answers document on practical questions regarding data reporting issues, under the European Markets Infrastructure Regulation (EMIR).

The newly added Trade Repository (TR) Q&A 54 provides clarifications on reporting of OTC derivatives by a financial counterparty (FC) on behalf of a non-financial counterparty below clearing threshold (NFC-) under EMIR Refit.

In particular, the TR Q&A 54 clarifies: 

·         What are the reportable details that the NFC- should provide to the FC;

·         how the FC should proceed if the NFC- does not renew its LEI;

·         how the FC should proceed if an NFC that has been classified as an NFC+ changes its status to NFC- and fails to timely inform the FC of this fact;

·         how FC and NFC- should proceed if they report to two different trade repositories.

The purpose of this Q&A is to promote common supervisory approaches and practices in the application of EMIR. It provides responses to questions posed by the general public, market participants and competent authorities in relation to the practical application of the Regulation. This document aims to ensure that the supervisory activities of the competent authorities under the Regulation are converging along the lines of the responses adopted by ESMA. It should also help investors and other market participants by providing clarity on reporting requirements.

ESMA will periodically review these Q&A and update them where required.



Adoption of the CP8 Common Practice

May 28, 2020 European Trade Mark and Design Network

Adoption of the CP8 Common Practice

The CP8 Common Practice ‘Use of a trade mark in a form differing from the one registered’ has been adopted by the EUIPO’s Management Board and Budget Committee.

The Management Board adopted the CP8 Common Practice through a written procedure. The participating offices can proceed on a voluntary basis with the corresponding implementation procedure.

The EUIPO, the Intellectual Property Offices of the EU Member States and the Benelux Office for Intellectual Property (BOIP) can benefit from a Common Practice document that aims to increase transparency, legal certainty, consistency and predictability, thus improving the European trade mark landscape.

The CP8 Common Practice establishes general principles to assess when the use of a trade mark in a form differing from the one registered alters its distinctive character. More specifically, the document assesses the impact of additions, omissions, modifications of characteristics, and combinations of these changes, on the distinctive character of registered word marks, purely figurative marks and composite marks.

The adoption of the Common Practice is the result of the consultations and contributions submitted by stakeholders over the past two years as well as the fruitful collaboration efforts of the Working Group, composed of experts from national and regional IP offices of the EU and users associations, as part of the EUIPO’s European Cooperation Projects (ECP4).

 



ESMA updates Q&AS on MiFID II investor protection

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today updated its Questions and Answers on the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).

The Q&As on MiFID II and MiFIR investor protection and intermediaries’ topics includes a new answer on ‘MiFID inducements’.

More specifically, the new Q&A provides clarification on the application of the MiFID definition of “acceptable minor non-monetary benefits”.

The purpose of the MiFID II/MiFIR investor protection Q&As is to promote common supervisory approaches and practices in the application of MiFID II and MiFIR.

ESMA will continue to develop this Q&A document on investor protection topics under MiFID II and MiFIR, both adding questions and answers to the topics already covered and introducing new sections for other MiFID II investor protection areas not yet addressed in this Q&A document.



ESMA updates Q&AS on MiFID II investor protection

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today updated its Questions and Answers on the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).

The Q&As on MiFID II and MiFIR investor protection and intermediaries’ topics includes a new answer on ‘MiFID inducements’.

More specifically, the new Q&A provides clarification on the application of the MiFID definition of “acceptable minor non-monetary benefits”.

The purpose of the MiFID II/MiFIR investor protection Q&As is to promote common supervisory approaches and practices in the application of MiFID II and MiFIR.

ESMA will continue to develop this Q&A document on investor protection topics under MiFID II and MiFIR, both adding questions and answers to the topics already covered and introducing new sections for other MiFID II investor protection areas not yet addressed in this Q&A document



FRA discusses privacy, data protection and COVID-19 with cities

The European Forum for Urban Security (EFUS) organised the webinar.

It brought together more than 30 cities and other local governments to share information and experiences on the use of technologies such as contact tracing app, in the fight against COVID 19.