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ESMA consults on clearing solutions for Pension Scheme Arrangements under EMIR

The European Securities and Markets Authority (ESMA) has launched a public consultation on a range of issues regarding potential central clearing solutions for Pension Scheme Arrangements (PSAs) under the European Market Infrastructure Regulation (EMIR). The consultation is based on ESMA’s First Report to the European Commission documenting the progress made to date towards potential clearing solutions for [...]

April 2nd, 2020|Comments Off on ESMA consults on clearing solutions for Pension Scheme Arrangements under EMIR

ESMA updates its risk assessment in light of the COVID-19 Pandemic

The European Securities and Markets Authority (ESMA), the EU securities markets regulator, today updates its risk assessment to account for the impact of the COVID-19 pandemic. Image: ESMA The pandemic, in combination with existing valuation risks, has led to large equity market corrections since mid-February, driven by a sharp deterioration in the outlook for consumers, [...]

April 2nd, 2020|Comments Off on ESMA updates its risk assessment in light of the COVID-19 Pandemic

Systemic failings at Caesars Entertainment leads to the departure of three senior managers and sanctions of £13m

The Gambling Commission has announced that Caesars Entertainment UK Limited is to pay £13m and must implement a series of improvements following a catalogue of social responsibility, money laundering and customer interaction failures including those involving ‘VIPs’. As a result of this investigation three senior managers at the company surrendered their personal licences. The Regulator’s [...]

April 2nd, 2020|Comments Off on Systemic failings at Caesars Entertainment leads to the departure of three senior managers and sanctions of £13m

EBA publishes Guidelines on treatment of public and private moratoria in light of COVID-19 measures

Following the publication of its statement on the application of the prudential framework regarding default, forbearance and IFRS9 in light of COVID-19 measures, the European Banking Authority (EBA) has published more detailed guidance on the criteria to be fulfilled by legislative and non-legislative moratoria applied before 30 June 2020. The aim of these Guidelines is [...]

April 2nd, 2020|Comments Off on EBA publishes Guidelines on treatment of public and private moratoria in light of COVID-19 measures

ESMA publishes 24th extract from its EECS database

The European Securities and Markets Authority (ESMA), the EU securities markets regulator, has published the 24th extract from its database of enforcement decisions on financial statements. The extract includes eight decisions taken by European enforcers in the period between May 2018 and October 2019. The decisions cover a number of topics, including identification of performance obligations, liquidity [...]

April 2nd, 2020|Comments Off on ESMA publishes 24th extract from its EECS database

ICAS, EASA and CONARED Statement on the Importance of Responsible Advertising and COVID-19

International Council for Advertising Self-Regulation (ICAS), European Advertising Standards Alliance (EASA) and CONARED have issued a joint statement on the importance of responsible advertising and COVID-19. This year we are facing an unprecedented international crisis due to the spread of the COVID-19 virus. Alongside the human tragedy, the global economy is severely impacted and consumers [...]

April 2nd, 2020|Comments Off on ICAS, EASA and CONARED Statement on the Importance of Responsible Advertising and COVID-19