International and European news

On 21 September 2020, the European Commission adopted a temporary equivalence decision for the regulatory framework applicable to the United Kingdom on central counterparties (CCPs), for a period of eighteen months from 1 January 2021, in order to counter any potential risks to financial stability.

On 25 November 2020 the European Commission adopted a temporary equivalence decision for the regulatory framework applicable to the United Kingdom on central securities depositories (CSDs).

On 20 October 2020, EU Directive 2020/1504 and EU Regulation 2020/1503 of 7 October 2020 on European Crowdfunding Service Providers (ECSPs) were published in the Official Journal.

On 24 September 2020, the European Commission published its new action plan to boost the Capital Markets Union (CMU).

On 24 September 2020, the European Commission adopted a new digital finance package, made up of a digital finance strategy, a retail payments strategy, legislative proposals for an EU regulatory framework on crypto-assets, and proposals for an EU regulatory framework on digital operational resilience.

0n 13 November 2020, ESMA has identified costs and performance for retail investment products and market data quality as the Union Strategic Supervisory Priorities for national competent authorities (NCAs).

On 29 September 2020, ESMA published the Final Report on the MiFID II/MiFIR transparency regime applicable to non-equity financial instruments.

On 23 November 2020, the European Supervisory Authorities (ABE, EIOPA, ESMA) published a final report with draft RTS for EMIR, proposing to substitute certain novations and amend timelines for intragroup transactions and equity options.

On 16 October 2020, The Financial Stability Board (FSB) has published a global transition roadmap for LIBOR.