ESMA REGULAR USE
18 June 2021 ESMA22-106-3366
SUMMARY OF CONCLUSIONS
Board of Supervisors
Date: | 4 May 2021 |
Time: | 16h00 - 18h30 |
Location: | Conference call |
Contact: | frederiek.vermeulen@esma.europa.euTel: +33 1 58 36 43 37 |
1. | Adoption of agenda | Decision |
Decision: The agenda was adopted. | ||
2. | Confirmation of absence of conflict of interests | Decision |
Decision: The Board endorsed the Interim Chair's statement not to have received any indication by a Board Member of any interest which might be considered prejudicial to her/his independence in relation to any items on the agenda.
3. Report by Interim Chair, Executive Director and Chair of the CCP Supervisory Committee
Oral Discussion
The Interim Chair reported on the ongoing senior management transition, in particular the status of the ESMA Chair and Executive Director selection and appointment process and the fact that the European Parliament is expected to vote on the appointment of the candidate for the position of Executive Director during its May 2021 Plenary session.
4. ESAs' Review
1) Presentation | Discussion |
The Head of the Governance and External Affairs Department presented the slideshow on the European Commission's targeted consultation in the context of the 2021 ESAs' Review.
The Board discussed the presentation, in particular:
- Assessing the changes introduced as part of the 2017 ESAs' Review;
- ESMA's response to the European Commission's ESAs' Review targeted consultation on the supervisory convergence and the single rulebook, in particular in relation to supervisory convergence (the Q&A process), direct supervision, data and the development of a single rulebook; and
- The tools available for ESMA's emergency actions as experienced during the COVID19 related financial crisis and the need for further clarification.
ESMA • 201-203 rue de Bercy • CS 80910 • 75589 Paris Cedex 12 • France • Tel. +33 (0) 1 58 36 43 21 • www.esma.europa.eu
Conclusion: The Board asked ESMA staff to prepare a draft response to the European Commission which will be presented to the May 2021 Board of Supervisors for discussion.
5. Exemption from the clearing obligation for Pension Scheme Arrangements
1) | Presentation | Discussion |
2) | Note | Discussion |
The Head of the Markets and Data Reporting Department presented the note on the exemption from the clearing obligation for Pension Scheme Arrangements.
The Board discussed the note, in particular:
- Whether the Q&A on the exemption of pension scheme arrangements from the clearing obligation should be amended; and
- The fact that ESMA may respond to questions that relate to the practical application or implementation of EU law, while it must forward to the Commission those that require the interpretation of Union law.
Conclusion: The Board asked the Post-Trading Standing Committee (PTSC) to consider whether other technical solutions could be envisaged and to report back to the May 2021 Board of Supervisors.
6. CSDR Review
1) | Presentation | Discussion |
2) | Note | Discussion |
3) | Letter to the European Commission | Decision |
The Head of the Markets and Data Reporting Department presented the note on the Central Securities Depositories (CSDR) Review.
The Board discussed the note, in particular:
- The potential classification of TARGET2-Securities (T2S) as a 'critical service provider';
- The need to enhance the coordination of the oversight of T2S by securities regulators and the European Central Bank (ECB) in the CSDR, and the possibility of doing so by updating the relevant Memorandum of Understanding (MoU); and
- Whether settlement services should be included in the third-country CSD recognition regime.
Decision: The Board discussed the draft letter to the European Commission by expressing a preference to reinforce the MoU to enhance the coordination of T2S' oversight by the ECB and securities regulators, and to explore the possibility of including settlement services in the third-country CSD regime. The letter to the European Commission will be amended and presented to the Board of Supervisors for adoption by written procedure.
7. Commodity Derivatives Task Force
1) CDTF Report | Information |
Conclusion: The Board took note of the CDTF report.
2) Ancillary activity opinion | Decision |
2
Decision: The Board adopted the ancillary activity opinion.
8. Corporate Finance Standing Committee
1) CFSC Report | Information |
Conclusion: The Board took note of the CFSC Report.
2) Prospectus Q&As | Decision |
Decision: The Board adopted the Prospectus Q&As.
9. EMIR requirements for non-financial counterparties trading on UK markets
1) Note | Information |
Conclusion: The Board took note of the note on EMIR requirements for non-financial counterparties trading on UK markets.
10. A.O.B.
/
3
Participants list
Voting members
Member State | Representative | Accompanying Person | ||
Belgium | Jean-Paul Servais (untill agenda item | Antoine | van | Cauwenberge |
5) | (alternate) | |||
Bulgaria | Mariyan Ivanov (alternate) | |||
Czech Republic | Vojtech Belling | |||
Denmark | Karen Dortea Abelskov | |||
Germany | Thorsten Pötzsch | |||
Estonia | Andre Nõmm | |||
Ireland | Derville Rowland | |||
Greece | Vasiliki Lazarakou | |||
Spain | Rodrigo Buenaventura | |||
France | Robert Ophèle | |||
Croatia | Ante Žigman | |||
Italy | Carmine di Noia (alternate) | |||
Cyprus | Demetra Kalogerou | |||
Latvia | Girts Ruda | |||
Lithuania | Rūta Merkevičiūtė | |||
4 |
Luxembourg | Claude Marx (untill agenda item 5) | Francoise Kauthen (alternate) |
Hungary | Krisztian Csaky | |
Malta | Christopher Butigieg | |
Netherlands | Jos Heuvelman (alternate) | |
Austria | Eduard Mueller | |
Poland | Magdalena Łapsa-Parczewska | |
Portugal | Gabriela Figueiredo Dias | |
Romania | Gabriel Grădinescu | |
Slovenia | Sabina Bešter (alternate) | |
Slovakia | Peter Tkáč | |
Finland | Armi Taipale (alternate) | |
Sweden | Erik Thedéen | |
ESMA Interim Chair | Anneli Tuominen | |
Non-voting members
European Commission | Ugo Bassi | |
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
European Union published this content on 23 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 June 2021 18:30:06 UTC.