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EU derivative clearing showed strong growth in 2019
November 16, 2020--The European Securities and Markets Authority (ESMA), the EU''s securities markets regulator, today publishes its third Annual Statistical Report (Report) analysing the European Union's (EU) derivatives markets.
It provides a comprehensive market-level view of the EU's derivatives markets in 2019, which had a total size of €681tn gross notional amount outstanding, a decrease of 5% on 2018. The Report is based on data submitted under the European Markets and Infrastructure Regulation (EMIR).
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Source: ESMA
Five Charts on Spain's Economy and Response to COVID-19
November 13, 2020--The pandemic has taken a significant toll on Spain's people and economy, following five years of strong growth and job creation. A second wave of infections that started in mid-July has put a lid on the recovery.
According to the IMF's latest economic health check of the country, it will take several years for the Spanish economy to recover. And the outlook is subject to strong risks.
Here are six charts on Spain’s economic outlook and the country’s response to the crisis.
Despite a sharp rebound in the third quarter, the Spanish economy remains 8.7 percent below its level a year ago-one of the largest contractions in Europe. The magnitude of the drop reflects the large-scale spreading of infections, which required strict lockdown measures. Structural features that make the Spanish economy vulnerable to disruptions also played a role. Contact-intensive service sectors like tourism, which accounts for about 12 percent of Spain's economy, were hit especially hard. Small and medium-sized companies, which typically have fewer financial resources and contribute to over 70 percent of employment, are struggling to stay afloat. The widespread use of temporary employment accounted for most of the job losses.
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Source: IMF
ESMA identifies costs and performance and data quality as new Union Strategic Supervisory Priorities
November 13, 2020--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, using its new convergence powers, has identified costs and performance for retail investment products and market data quality as the Union Strategic Supervisory Priorities for national competent authorities (NCAs).
Under these Priorities, the specific topics on which NCAs will undertake supervisory action in 2021, coordinated by ESMA, are:
1.costs and fees charged by fund managers; and
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Source: ESMA
ESMA tells fund managers to improve readiness for future adverse shocks
November 13, 2020--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has published a Report on the preparedness of investment funds with significant exposures to corporate debt and real estate assets, for potential future adverse liquidity and valuation shocks. The Report identifies five priority areas for action which would enhance the preparedness of these fund categories.
The priority areas identified to enhance the preparedness of the funds are ongoing supervision of the alignment of the funds' investment strategy, liquidity profile and redemption policy; ongoing supervision of liquidity risk assessment; fund liquidity profile reporting; increase of the availability and use of Liquidity Management Tools (LMTs); and supervision of valuation processes in a context of valuation uncertainty.
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Source: ESMA
Labour calls for UK pension funds to be carbon neutral by 2050
November 12, 2020--Opposition party in push to align retirement schemes with Paris climate agreement.
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Source: FT.com
ESMA publishes third annual report on use of sanctions for UCITS
November 12, 2020--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, today publishes its 2019 report on the use of supervisory sanctions by National Competent Authorities (NCAs) under the Undertakings for Collective Investments in Transferrable Securities (UCITS) Directive.
While the number of NCAs issuing sanctions (penalties and measures) remains stable at 15, compared to the previous report for the period 2016-2018, the financial amount of penalties issued decreased slightly based on a year on year comparison.
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Source: ESMA
City regulator warns on three Brexit 'cliff-edge' risks
November 12, 2020--UK-EU trade bargain cannot counterbalance interruption to economic solutions on January 1, states FCA director.
The United Kingdom monetary regulators mind of Brexit arrangements has actually cautioned that banks and financial investment firms nonetheless face three cliff-edge risks as soon as the change duration for leaving the EU expires in seven months.
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Source: newsoninvest.com
ESMA publishes first report on use of sanctions under the AIFMD
November 12, 2020--The European Securities and Markets Authority (ESMA), the EU securities markets regulator, today publishes its first annual report on the use by National Competent Authorities (NCAs) of sanctions under the Alternative Investment Fund Managers Directive (AIFMD).
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Source: ESMA
ESMA publishes third annual report on use of sanctions for UCITS
November 12, 2020--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, today publishes its 2019 report on the use of supervisory sanctions by National Competent Authorities (NCAs) under the Undertakings for Collective Investments in Transferrable Securities (UCITS) Directive.
While the number of NCAs issuing sanctions (penalties and measures) remains stable at 15, compared to the previous report for the period 2016-2018, the financial amount of penalties issued decreased slightly based on a year on year comparison. The data gathered under the sanction reports published so far shows that the sanctioning powers are not equally used among NCAs and, except for certain NCAs, the number and amount of sanctions issued at national level seems relatively low.
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Source: ESMA
86 % Of Bitcoin Addresses Breaking Even, Confidence In Cryptocurrencies Remains At Historic Low
November 11, 2020--Around 86% of all Bitcoin addresses have turned a profit. Regardless of this performance, just 16% of Germans have faith in the price stability of digital currencies- back in 2017 twice as many were confident about the integrity of such currencies, according to a new infographic from Kryptoszene.de
The proportion of people making transactions using cryptocurrencies has also decreased sharply. According to a survey conducted by "Bearing Point", 4% of Germans actively use cryptocurrencies, compared to 11% in the year 2017.
While digital currencies are generally regarded critically, 86% of German citizens have faith in national currencies. Only gold enjoys a higher degree of trust, with 87% putting their trust in the precious metal.
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Source: kryptoszene.de
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