September Newsletter - Issue 39/2021
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ESMA Guidelines on the MiFID II/MiFIR obligations on market data (ESMA70-156-4263)
29 September 2021
The Cyprus Securities and Exchange Commission (the ‘CySEC’) wishes to inform the regulated entities that the European Securities and Markets Authority (ESMA) has published the Guidelines on the MiFID II/ MiFIR obligations on market data (the ‘Guidelines’) on August 18, 2021, translated in all official languages of the EU.
Circular: C469
Guidelines on enforcement of financial information
29 September 2021
The Cyprus Securities and Exchange Commission (the ‘CySEC’) wishes to inform the issuers whose securities are admitted to trading on a regulated market, that it has adopted the revised guidelines of the European Securities and Markets Authority (‘ESMA’) on enforcement of financial information, which are a revision of the guidelines that were issued by ESMA in October 2014 and adopted by CySEC.
Circular: C468
Publishes its regular monitoring Report on Basel III full implementation in the EU
29 September 2021
The European Banking Authority (EBA) published its regular monitoring Report of the full implementation, in 2028, of the final Basel III reforms in the EU. According to this assessment, which is carried out using the same methodology as the one applied by the Basel Committee on Banking Supervision (BCBS), the full Basel III implementation would result in an average increase of 13.7% on the current Tier 1 minimum required capital of EU banks. To comply with the new framework, EU banks would need EUR 3.1 billion of additional Tier 1 capital. The overall impact reflects the economic impact of the Covid-19 pandemic on participating banks that materialised up to December 2020, the reference date of this Report. For more information please press 
Market News
European Gas, Power Prices Jump Again to Records
30 September 2021
"European natural gas and power prices jumped to records, signaling the supply shortage will only get worse just as the winter season starts on Friday. Stockpiles of everything from gas to coal and water for electricity production are in short supply and there are few signs the situation will improve anytime soon as demand continues to roar back from a pandemic-driven lull. Russian gas flows to Germany’s Mallnow terminal dropped, wiping out yesterday’s partial recovery. Supplies via this major transit route are about a third less than at the beginning of the week. And European utilities seeking to buy more coal from Russia will also be disappointed as any exports are likely to be limited." For more information please press 
Bond Market Starts Fretting Rare European Inflation Breakout
30 September 2021
"Ballooning energy prices are giving fresh support to a view that has been all too rare in Europe’s bond markets for more than a decade -- that inflation is back and it’s not going away any time soon. Jupiter Asset Management and Carmignac Gestion are among a growing legion of investors that say there’s a risk the current price pressures in the euro region could be more than just transitory, and as such could shake the land of negative yields." For more information please press 
China Evergrande offshore investors face 'large losses' after second payment miss
30 September 2021
"China Evergrande Group (3333.HK) missed paying bond interest due on Wednesday, two bondholders said, its second unpaid offshore debt payment in a week, although the cash-strapped company is scrambling to meet its obligations in its home market. The company, reeling under a debt pile of $305 billion, was due on Wednesday to make a $47.5 million bond interest payment on its 9.5% March 2024 dollar bond, after having missed $83.5 million in coupon payments last Thursday." For more information please press 
New Zealand Exploring Possibility of Issuing a Digital Currency
30 September 2021
"New Zealand’s central bank is exploring the possibility of issuing a digital currency, saying the benefits it would bring include its potential use as a monetary policy tool. “Trends in cash use and innovation in money present an opportunity for the Reserve Bank to consider broadening central bank money to include a widely available digital form,” the RBNZ said Thursday in documents released for public consultation. “The declining use, acceptance and availability of cash in New Zealand, and emerging innovations in private money, namely stablecoins, make this an opportune time to consider a central bank digital currency (CBDC).”" For more information please press 
Regulatory Reporting Solutions
Treppides Regulatory Reporting offers extensive reporting solutions under EMIR, MIFID, CRD IV, FATCA, CRS, REMIT towards MiFID II / MiFIR and CRS in all EU/ESMA jurisdictions like Cyprus (CySEC) and UK (FCA) and soon will also comply with foreign jurisdictions such as ASIC DTR. 

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