Central Bank of Ireland Markets Update Issue 2 2020 - 26 February 2020 Central Bank of Ireland Notice of Intention – Additions to the list of Pre-Approval Control Functions The Importance of Diversity in the Financial Services Sector - Director General Derville Rowland European Securities and Markets Authority (ESMA) ESMA finds continued high risks as financial markets remain highly volatile ESMA updates its Q&As relating to the Prospectus Regulation ESMA updates Q&AS on MiFID II and MiFIR investor protection topics ESMA updates Q&A on Implementation of CRA Regulation ESMA updates the CSDR Q&As ESMA responds to European Commission consultation on the Benchmark Regulation review MiFID II: ESMA issues latest double volume cap data ESMA issues opinions on position limits under MiFID II ESMA publishes the final report on MiFIR alignments following the introduction of EMIR Refit ESMA updates on progress on compliance with the MiFIR pre-trade transparency requirements in commodity derivatives ESMA sets out its strategy on sustainable finance ESMA launches a Common Supervisory Action with NCAs on MiFID II suitability rules ESMA proposes to amend the technical standards in view of the postponing of the entry into force of the CSDR settlement discipline ESMA amends guidelines to further harmonise the enforcement of financial information by national regulators ESMA consults on MiFIR transparency regime for equity instruments ESMA issues an opinion on Product Intervention measures by Norway MiFID II: ESMA makes new bond liquidity data available MiFID II: ESMA publishes data for the systematic internaliser calculations for equity, equity-like instruments and bonds ESMA issues opinion on accepted market practice on liquidity contracts by CONSOB ESMA consults on the new MiFIR and MiFID II regimes for third-country firms ESMA: update on governance and reporting obligations following the UK’s withdrawal from the European Union ESMA launches a Common Supervisory Action with NCAs on UCITS liquidity risk management ESMA appoints chairs to its Standing Committees International Organization of Securities Commissions (IOSCO) IOSCO publishes key considerations for regulating crypto-asset trading platforms 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.