EU Reiterates Tough Limits on Crypto Firms Without a Base in the Bloc LeapRate

January 29, 2024 BY Simon Mugo

EU Reiterates Tough Limits on Crypto Firms Without a Base in the Bloc

The EU established the first extensive crypto market regulations globally last year, known as the Markets in Crypto-Assets (MiCA), a significant step in regulating an online sector where enforcing national boundaries has been challenging. The latest EU guidelines detail how non-EU crypto firms and regulators should adhere to MiCA when seeking to provide services directly…

December 18, 2023 BY Simon Mugo

ESMA Report Indicates Investing Costs Fell Across the Eurozone

According to the ESMA's findings, there was a noticeable reduction in the average cost of investing in these products compared to the previous year. However, the report emphasises the ongoing disparity in costs among different EU countries. Enhanced transparency and potentially reduced expenses are attributed to more explicit fee information, a requirement under EU regulations.…

March 30, 2023 BY Steffy Bogdanova

ESMA issues guidance on supervision of copy trading in the EU for strong investor protection

The supervisory briefing states that regulated firms should be transparent and accurate in their marketing communication, disclosing all costs and charges related to their copy trading services. Offered products must prioritize the clients' best interests, and firms should ensure that traders whose trades are replicated have the requisite qualifications and expertise. ESMA and National Competent…

March 28, 2023 BY Steffy Bogdanova

ESMA issues guidance on fractional shares in the EU

ESMA said: As derivatives on fractions of shares are not corporate shares, firms should not use the term fractional shares when referring to these instruments. ESMA would deem such use of the term misleading and therefore in breach of MiFID II requirements. Companies offering these derivative products must provide full disclosure of all direct and…

March 24, 2023 BY Steffy Bogdanova

ESMA fines S&P €1.11 million for premature release of credit ratings

ESMA found S&P Global Ratings Europe Limited guilty of three contraventions, which included internal control and transparency breaches. The financial market supervisor fined S&P €825,000, €210,000, and €75,000 for each of the violations, respectively. The credit agency can challenge the decision before the Board of Appeal of the European Supervisory Authorities. S&P Global Ratings is…

March 17, 2022 BY Steffy Bogdanova

EU financial regulators warn consumers on the risk of trading crypto assets

ESMA further explained the risks behind trading crypto-assets. Many of them are are subject to sudden and extreme price movements and are speculative as their price relies solely on consumer demand. These products are often aggressively advertised to the public with market information that often can be unclear, incomplete, inaccurate or even purposefully misleading. The…

December 16, 2021 BY Steffy Bogdanova

ESMA names Erik Thedéen Vice Chair

Verena Ross, Chair, said: I am happy to announce the appointment of Erik Thedéen as Vice Chair of ESMA. As a Board Member since January 2018, he has demonstrated his commitment to ESMA through his active participation in our supervisory work. He brings a wealth of national and international experience to the role, and I…

October 15, 2021 BY Steffy Bogdanova

ESMA appoints Verena Ross as Chair

Anneli Tuominen, Vice Chair of ESMA and Director-General at the FIN-FSA of Finland, took the position of Interim Chair on 1 April 2021. Ross takes the helm from Steven Maijoor, the former Chair. She is appointed for a five-year term with a possibility to be renewed only once. Ross is a German national and was…

July 16, 2021 BY Steffy Bogdanova

Forex Weekly Look Back: X Open Hub’s Sylwester Jezierski discusses changes in the industry, FP Markets adds more than 500 share CFDs

With the emerging new requirements in the investment ecosystems, it is important for brokerages to keep up with the digital age. Software company Devexperts in cooperation with Turkish broker Global Securities released a number of updates for the BayGlobal trading platform. Users on BayGlobal can now listen to live broadcasts of Global’s financial analysts. Every…

July 13, 2021 BY Steffy Bogdanova

ESMA seeks stakeholder feedback on CCP recovery regime

Klaus Löber, Chair of the CCP Supervisory Committee, said: The launch of ESMA’s public consultations, on the implementation of the CCP recovery mandates, is the first step to ensuring consistency of EU central counterparties recovery regimes at EU level in line with the highest international standards. The proposed Regulatory Technical Standards and Guidelines complement the…

Tag: ESMA