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Consob - Consultazione: Modifiche al Regolamento Intermediari concernenti l'operatività in Italia delle imprese di paesi terzi diversi dalle banche

Le modifiche regolamentari sottoposte a consultazione concernono l'ingresso in Italia delle imprese di paesi terzi diversi dalle banche, conformemente a quanto previsto dall'art. 28 del TUF, come modificato dal D.Lgs. n. 129/2017, con il quale è stata data attuazione alla MiFID II. La consultazione scadrà il prossimo 8 novembre.

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European Commission - Guidelines on Data Protection Impact Assessment (DPIA) and determining whether processing is likely to result in a high risk

The purpose of these Guidelines, adopted by the Article 29 Data Protection Working Party,  is to  clarify the relevant provisions of the GDPR in order to help controllers to comply with the law and to provide legal certainty for controllers who are required to carry out a DPIA. These Guidelines also seek to promote the development of: - a common European Union list of processing operations for which a DPIA is mandatory (Article 35(4)); - a common EU list of processing operations for which a DPIA is not necessary (Article 35(5)); - common criteria on the methodology for carrying out a DPIA (Article 35(5)); - common criteria for specifying when the supervisory authority shall be consulted (Article 36(1)); - recommendations, where possible, building on the experience gained in EU Member States.

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ESMA - MiFID II Transitional Transparency Calculation: FAQs

The Q&A document aims at gathering FAQs regarding the publication of the MiFID II Transitional Transparency Calculations (TTC) for all non-equity instruments in accordance with RTS 2 regulatory technical standards on transparency requirements in respect of bonds, structured finance products, emission allowances and derivatives under MiFIR.    

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ESMA - Key MiFID II and MAR financial instrument reference database

ESMA launched the second phase of its Financial Instrument Reference Database (FIRDS). The launch involves providing access to the database containing the currently available reference data that will eventually enable market participants to identify instruments subject to MAR and MiFID II/MiFIR reference data reporting requirements. This will allow market participants to prepare their reporting systems ahead of the go-live date on 3 January 2018. The advance publication of this data will facilitate markets participants' preparation of their systems to fulfil future reporting obligations to national competent authorities (NCAs) under MiFIDII/MiFIR. ESMA has also published instructions for market participants on how to access the data and download the relevant machine-readable files. The requirements of Article 27 of MiFIR and related technical standards oblige trading venues and systematic internalisers to submit reference data, from 3 January, for the relevant financial instruments to national competent authorities (NCAs) who will subsequently transmit it to ESMA for publication. The data released are subject to quality limitations, in particular regarding their completeness. ESMA and the NCAs will continue to monitor and improve the quality and completeness of the published information.  

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EBA - Guidance to authorities and institutions on Brexit relocations

EBA published an Opinion on Brexit to ensure the consistent application of Union legislation to businesses seeking to establish or enhance their EU27 presence in order to retain access to the EU Single Market. The Opinion aims at providing greater certainty to firms and ultimately at ensuring a level playing field. In the Opinion, EBA addresses a number of relevant policy topics relating to authorisations, the prudential regulation and supervision of investment firms, internal models, outsourcing, internal governance, risk transfers via back-to-back and intragroup operations, and resolution and deposit guarantee scheme issues.

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European Council - Commission Delegated Regulation of 3 October 2017 supplementing Regulation (EU) 2016/1011 on benchmarks

Regulation (EU) 2016/1011 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (the Benchmark Regulation) introduces a common framework to ensure the accuracy and integrity of benchmarks referenced in financial instruments, financial contracts or investment funds in the European Union. This Delegated Regulation, based on an optional empowerment in Article 51 of the Benchmark Regulation, sets out a non-exhaustive list of conditions to be taken into account by a national competent authority when considering the permission to use an existing benchmark which does not meet the requirements of the Benchmark Regulation in the Union.

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Parlamento Europeo - Lotta alla criminalità informatica

Pubblicata la Risoluzione del Parlamento europeo del 3 ottobre 2017 sulla lotta alla criminalità informatica che richiama la necessità di un rafforzamento significativo delle misure di contrasto al fenomeno mediante, ad esempio, l'implementazione dei sistemi di resilienza informatica, una maggior responsabilizzazione dei fornitori di servizi, l'intensificazione della cooperazione di polizia e giudiziaria, un quadro armonizzato in materia di prove elettroniche che comprenda garanzie sufficienti per i diritti e le libertà di tutti gli interessati; una miglior cooperazione con i paesi terzi.

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ESMA - MiFID II Q&As

ESMA updated its Q&As regarding the implementation of the Markets in Financial Instruments Directive (MiFID II). Q&As include news answers to questions regarding: (i) market structure issues; (ii) transparency issues.    

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ESMA - Latest updates to MiFIDII/MiFIR investor protection Q&As

ESMA has added 12 new Q&As to its Q&A document on the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR). The new Q&As cover the topics of client categorisation, post-sale reporting, recording of telephone conversations and electronic communications, best execution, and information on costs and charges.

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ESMA - Publication of translations for MiFID II guidelines on transaction reporting, order record keeping and clock synchronisation

ESMA issued official translations f its Guidelines on transaction reporting, order record keeping and clock synchronisation under MiFID II. National Competent Authorities (NCAs) to which these Guidelines apply must notify ESMA whether they comply or intend to comply with the Guidelines, within two months of the date of publication by ESMA of the Guidelines in all EU official languages.

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