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ESMA - Updated Q&As on MiFIR data reporting

The Q&As provide clarifications in relation to the requirements for submission of reference data under MiFIR. In particular, the Q&As relate to reporting obligations for trading venues operating on the basis of a specified list of instruments. The Q&A on a defined list of instruments provides new answers on how operators of trading venue(s) should report instrument reference data in accordance with Article 2 of RTS 23 and related MAR RTS and ITS. The amendments to the existing Q&A on MiFIR data reporting becomes effective from 9 April 2019.

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Consob - Prassi di mercato ammesse: esiti della consultazione del 21 settembre 2018

L'Autorità ha disposto la cessazione, con effetto dal prossimo 30 giugno, delle prassi inerenti all'acquisto di azioni proprie per la costituzione di un c.d. "magazzino titoli" e al riacquisto di prestiti obbligazionari a condizioni predeterminate. Per facilitare l'operatività la Consob fornirà linee guida sulle modalità operative per ridurre il rischio di incorrere in abusi. La Consob, ha deciso inoltre di notificare all'ESMA la nuova prassi inerente all'attività di sostegno della liquidità del mercato, ai fini del rilascio del parere di cui all'articolo 13, paragrafo 4, del MAR.

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ESMA - Updates on the impact on databases and IT systems of a no-deal Brexit scenario on 12 April 2019

In accordance with the previous statement from 28 March 2019, the below dates of the operations of ESMA data systems detailed in its statement from 19 March 2019 are amended as follows: - The maintenance window of the Financial Instruments Reference Data System (FIRDS) system will take place from Friday 12 April 2019 21:30 CEST until Wednesday 17 April 2019 12:00 CEST (noon); - The maintenance window of the Financial Instrument Transparency System (FITRS) system will take place from Friday 12 April 2019 21:30 CEST until Monday 22 April 2019 12:00 CEST (noon); For the purpose of transaction reporting during the FIRDS maintenance window, NCAs shall continue using the latest available reference data from before 12 April 2019; and, The termination / authorisation date for UK entries in ESMA databases submitted before Brexit, in particular financial instruments, authorised entities, prospectuses and others, will be set to 12 April 2019.

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ESMA - Updated register of derivatives to be traded on-venue under MiFIR

The update follows the authorisation of one additional Dutch venue where some of the classes of derivatives subject to the trading obligation are available for trading. In addition, the register also reflects the recent adoption by the European Commission of an equivalence decision for Singapore. EU counterparties are now able to comply with the derivatives trading obligation when concluding transactions on the Singaporean venues listed in the Annex to the decision.

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ESMA - Updated version of supervisory briefing on MiFID II appropriateness requirements

The supervisory briefing is an updated version of ESMA's 2012 supervisory briefing on the same topic. The supervisory briefing covers the following topics: (i) Determining situations where the appropriateness assessment is required; (ii) Obtaining information from clients; (iii) Assessment of appropriateness; (iv) Warnings to clients; (v) Qualification of firm's staff; and (vi) Record-keeping.

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ESMA - Updated Q&As on MiFID II and MiFIR transparency topics

The new Q&As provide clarification on the following topics: Determination of the turnover to be used for the average value of transactions (AVT) calculation; Money Market Instruments (MMIs); Impact for systematic internalisers of an instrument changing liquidity status in between the systematic internaliser determination dates; Reporting of prime brokerage transactions; Quoting obligation for systematic internalisers in non-equity financial instruments; Branches of third country firms operating as SI in the EU; and Third-country trading venues' access to an EU CCP. ESMA also reviewed its published Q&As on market structures topics with the objective of deleting or amending obsolete Q&As such as those addressing issues pertaining to either 3 January 2018, or the following 12 months. This concerns 4 Q&As: Identification and authorisation of HFT (Q&A 6 of section 3 on Direct Electronic Access (DEA) and algorithmic trading); Timing of notification for transitional arrangements under Article 35(5) of MiFIR (Q&A 1 of section 6 on Access to CCPs and trading venues); Timing and procedure of notification for temporary opt out under Article 36(5) MiFIR (Q&A 3 of section 6 on Access to CCPs and trading venues);  and Timing of application for transitional arrangements under Article 54(2) of MiFIR (Q&A 5 of section 6 on Access to CCPs and trading venues). In addition, the Q&A clarifying how tick sizes should be determined for non-EU instruments (Q&A 3 of section 4 on the tick size regime) is also deleted due to the recent publication in the Official Journal of CDR (EU) 2019/443 amending Delegated Regulation (EU) 2017/588 (RTS 11).

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UIF - Quaderni dell'antiriciclaggio: dati statistici secondo semestre 2018

Nel secondo semestre del 2018 l'UIF ha ricevuto 48.687 segnalazioni di operazioni sospette, in aumento rispetto a quelle pervenute nel periodo corrispondente del precedente anno (9,1 per cento). A fronte di una sostanziale stabilità delle segnalazioni inoltrate dagli operatori bancari, si rilevano maggiori livelli di partecipazione al sistema segnaletico da parte di altre categorie di soggetti obbligati, quali IMEL e IP, anche comunitari, e prestatori di giochi e scommesse

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ESMA - Guidelines on risk factors under the Prospectus Regulation

The guidelines aim to encourage more appropriate, focused and streamlined risk factor disclosures for securities, which is presented in an easy to analyse, concise and comprehensible form.  The purpose of including risk factors in a prospectus is to ensure that investors can assess the risks related to their investment, therefore allowing them to make informed investment decisions. The final guidelines will be translated into the official EU languages and published on ESMA's website. They will become effective two months after their publication on ESMA's website in all the official languages.

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ESMA - Updated Q&As on Market Abuse Regulation

The update clarifies the scope of firms subject to the MAR provision to detect and report suspicious orders and transactions and new detailed answers on: \u2022Meaning of parent and related undertakings; and \u2022Disclosure of inside information concerning emission allowances, referring to installations of other undertakings of the group of the EAMP

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UIF - Istruzioni in materia di comunicazioni oggettive

Pubblicato il provvedimento definitivo - che fa seguito alla consultazione pubblica del luglio 2018 - recante istruzioni in tema di comunicazioni oggettive ai sensi dell'art. 47 del D.Lgs. 231/07. L'obbligo di invio delle comunicazioni oggettive decorre dal mese di aprile 2019. In sede di prima applicazione, le comunicazioni relative ai mesi di aprile, maggio e giugno potranno essere inviate entro il 15 settembre 2019.

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