EUROPE: ESMA Consultation on Technical Advice to the Commission – imposition of fines on Trade Repositories

Friday October 18 2013

News Source: Global Exchanges

Focus: General - Global Exchanges

Type: General

Country: European Union

Link: http://www.esma.europa.eu/system/files/2013-1292_cp_on_technical_advice_to_the_commission_re_trade_repositories_fining_procedures.pdf

The European Securities and Markets Authority (ESMA) has published a consultation on technical advice to assist the Commission in formulating procedural rules to impose fines and periodic penalty payments to trade repositories (TRs).

The document sets out ESMA’s preferred options for the procedural rules on imposition of fines and periodic penalty payments to TRs and welcomes comments in order to assist in the production of the advice.

ESMA will consider the feedback it receives and will provide by 31 December 2013 its advice on technical aspects of the future regulation which will be adopted by the Commission in the form of a delegated act in accordance with Article 290 of the TFEU.

Click on the above link for more details.