Central Bank of Ireland Markets Update Issue 2 2022 - 04 March 2022 Central Bank of Ireland Central Bank updates its communication on regulatory flexibility for Securities Markets, Investment Management, Investment Firms and Fund Service Providers The Central Bank revises its “Publication of national provisions governing marketing requirements for AIFs” webpage Product intervention: BaFin consult on prohibiting the marketing, distribution and sale of futures with additional payments obligations to retail clients in Germany “The spirit in the machine: considering evolving financial regulation” – Remarks by Gerry Cross, Director of Financial Regulation – Policy Risk, at the Compliance Institute Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Investment Firms) (Amendment) Regulations 2022 effective from 21 February 2022 Industry Communication related to Fund Service Providers effectively managing risks due to the Russian war in Ukraine European Securities and Markets Authority (ESMA) New Questions & Answers available ESMA launches call for evidence on climate risk stress testing for CCPs ESMA proposes reforms to improve resilience of money market funds ESMA responds to European Commission consultation on the Listing Act ESMA warns consumers of risk of significant market corrections ESMA prioritises the fight against greenwashing in its new Sustainable Finance Roadmap ESMA finds high level of divergence in disclosure of ESG factors in credit ratings ESMA launches a common supervisory action with NCAs on MiFID II costs and charges ESMA issues latest double volume cap data ESMA becomes Supervisor of EU Data Reporting Service Providers The ESAs recommend actions to ensure the EU’s Regulatory and Supervisory Framework remains fit-for-purpose in the digital age ESMA report highlights liquidity concerns for Alternative Investment Funds ESMA launches call for evidence on ESG ratings Financial education and literacy: a priority for the ESAs ESMA launch its new STS Register ESMA publishes supervisory briefing on the use of tied agents under MiFID II ESMA recommends clearing obligation for pension funds to start in June 2023 ESMA publishes final reports on CCP Recovery Regime ESMA starts supervision of benchmarks and assumes Chair of Euribor College ESAs publish thematic repository on financial education and digitalisation initiatives New Q&As available European Banking Authority (EBA) EBA issues an Opinion on the European Commission’s proposed amendments to the EBA final draft technical standards on fixed overheads requirements Please note that this Markets Update is intended to be a general summary only and does not purport to constitute an interpretation of, or the Central Bank’s position on, any of the legislative provisions, rules, requirements or guidance referenced herein. In case of any doubt, you should refer to the relevant legislative provision, rule, requirement or guidance document as applicable. The staff of the Central Bank are not authorised and cannot give you legal advice; you should seek this from your own legal advisor, if required.