ESMA Newsletter Highlights
The latest newsletter edition from the European Securities and Markets Authority (ESMA) marks a significant shift as it announces the conclusion of the transitional phase for the Markets in Crypto-Assets (MiCA) framework. This directive urges crypto-asset service providers operating without authorization to cease their operations in a structured way, prioritizing the protection of customer interests and ensuring market stability.
Key Reports and Initiatives
In the newsletter’s highlights, a crucial final report outlining strategies for simplifying transaction reporting has been revealed. This initiative could potentially unlock savings close to €1 billion annually through a streamlined “report once” system. Additionally, ESMA urges firms to complete their preparations ahead of the impending T+1 settlement deadline. The report from 2025 also emphasizes the importance of enhancing supervisory practices, simplifying regulations, and fostering innovation within the sector.
Important Documents and Consultations
Among the key documents included in this issue are the inaugural annual report addressing significant information and communication technology (ICT) incidents, as mandated by the Digital Operational Resilience Act (DORA). There is also an ongoing consultation aimed at refining the EU Taxonomy disclosure framework, which seeks to lessen the reporting burdens faced by market participants.
Authorization Updates
Furthermore, ESMA has granted authorization to EuroCTP, which will act as the Consolidated Tape Provider for both shares and exchange-traded funds. Other notable updates consist of Etrading Software (Netherlands) B.V. being appointed as the Consolidated Tape Provider for over-the-counter (OTC) derivatives, alongside initial findings regarding the Active Account Requirement under the European Market Infrastructure Regulation (EMIR). A report shedding light on the supervision of cross-border investment services has also been included, alongside the rollout of Common Supervisory Actions focusing on the risk management strategies and digital operational resilience for Crypto-Asset Service Providers (CASPs).
Stay Connected
For those interested in ongoing insights and updates, the Spotlight on Markets newsletter is released regularly and can be accessed on ESMA’s official website. Stay connected with ESMA through their channels on LinkedIn, X, and Instagram for the latest news.
