Central Bank of Ireland Markets Update Issue 1 2022 - 31 January 2022 Central Bank of Ireland Central Bank updates statement for MiFID Investment Firms authorised to deal on own account or to underwrite financial instruments on a firm commitment basis (MiFID activities (3) or (6)) ESMA Guidelines on Market Data applicable from 01 January 2022 S.I. No. 6/2022 - European Union (Markets in Financial Instruments) (Amendment) Regulations 2022 Retail investor protections under the Bank Recovery and Resolution Directive 2 New Crowdfunding regulatory regime Opening Statement by Gerry Cross, Director, Financial Regulation – Policy and Risk at Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach Financial Regulation in support of the economy and economic wellbeing - Speech by Gerry Cross, Director Financial Regulation - Policy and Risk, at the Business and Finance FS Leaders Summit European Securities and Markets Authority (ESMA) ESMA consults on trading venue perimeter ESMA consults on scope of the CRA Regulation for private credit ratings ESMA consults on CCP anti-procyclicality measures ESAs welcome ESRB recommendations on a pan-European systemic cyber incident coordination framework ESMA consults on the review of MiFID II suitability guidelines ESMA requires to report net short positions between 0.1% and 0.2% during transition ESMA launches a common supervisory action with NCAs on valuation of UCITS and open-ended AIFs ESMA issues 2021 report on accepted market practices under MAR ESAs publish list of financial conglomerates for 2021 ESMA publishes guidelines on delayed disclosure under MAR ESMA launches a call for evidence on distributed ledger technology ESMA publishes guidance on appropriateness and execution-only requirements under MiFID II New QAs available ESMA calls to deprioritise buy-in supervision ESMA reports on derivatives and securities markets in 2020 ESMA publishes results of its assessment of systemically important UK Central Counterparties ESMA publishes its Annual Report on waivers and deferrals ESMA issues statement on supervision of the clearing and derivative trading obligations following the benchmark transition ESMA publishes Report on Expected Credit Loss disclosures of banks Statement on transfer of competences and duties relating to certain data reporting services providers from NCA's to ESMA ESMA publishes 2021 ESEF XBRL taxonomy files and ESEF conformance suite ESMA announces upcoming publication aimed at CSDs The ESAs renew their Board of Appeal ESMA continues to see risk of market corrections amid elevated valuations ESMA publishes its 2020 annual report on the EU market abuse sanctions ESMA seeks input on EMIR clearing threshold framework ESMA publishes draft commodity derivative technical standards under MiFID II Recovery Package New Q&As available ESMA consults on CCP investment practices for highly liquid financial instruments ESMA publishes its Preliminary Report on the EU carbon market ESMA and EBA consult on framework for the supervisory review and evaluation process of investment firms ESMA launches public consultations on CCP resolution regime ESMA proposes changes to the scope of the clearing and derivative trading obligations for the benchmark transition European Banking Authority (EBA) EBA consults on draft Guidelines on remuneration and gender pay gap benchmarking exercise for banks and investment firms EBA publishes the methodology for investment firms to be reclassified as credit institutions EBA consults on liquidity requirements for investment firms EBA publishes its final Guidelines on remuneration for investment firms under the Investment Firms Directive EBA publishes its final revised Guidelines on internal governance for investment firms under the Investment Firms Directive EBA and ESMA consult on framework for the supervisory review and evaluation process of investment firms 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.