Week ending 22 October 2020
19 October 2020: The European Securities and Markets Authority (ESMA) has published issue 17 of its Newsletter, which covers appointments to its Central Counterparty Supervisory Committee, its latest Trends, Risks and Vulnerabilities (TRV) report, and its review of the Market Abuse Regulation (MAR).
19 October 2020: The European Systemic Risk Board (ESRB) has published a recommendation (dated 24 September 2020) on identifying legal entities (ESRB/2020/12).
The purpose of the Recommendation is to contribute, in line with the ESRB’s mandate, to the prevention and mitigation of systemic risks to financial stability in the EU through the establishment of the systematic use of the Legal Entity Identifier (LEI) by entities engaged in financial transactions.
To achieve this objective, the Recommendation seeks the introduction of an EU legal framework to uniquely identify legal entities engaged in financial transactions by LEIs and to make the use of the LEI more systematic in respect of supervisory reporting and public disclosure. Relevant authorities should pursue and systematise their efforts to promote the adoption and use of the LEI. The Recommendation requires that all legal entities established in the EU that are involved in financial transactions obtain and maintain an LEI.
