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Latest news from EU institutions and bodies (510)

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Showing results 280 to 290
  • 3 July 2024
ESAs Board of Appeal renews its President's term and elects a Vice-President
ESAs Board of Appeal renews its President's term and elects a Vice-President 14 June 2024 Board of Appeal During the Board of Appeal Annual Meeting on 13 June 2024, the three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) renewed the President and elected the Vice-President of the Board of Appeal, for a term of 2.5 years. Michele Siri, Professor of Insurance and Financial Markets Law, University of Genoa, Italy, was renewed as Board of Appeal’s President and Margarida Lima Rego, Associate Professor and Vice-Dean at NOVA School of Law, NOVA University, Portugal, was appointed as Board of Appeal’s Vice-President. The President and Vice-President are designated among the Board of Appeal’s members. The President’s role is to direct the business and the administration of the Board of Appeal, while the Vice-President will perform the functions of the President in the event of the incapacity of the President or other exceptional reasons. The Board of Appeal is composed of six members and six alternates, appointed by the ESAs. The members are individuals with a proven track record of professional experience in the fields of banking, insurance, occupational pensions and securities markets or other financial services, and with the necessary legal expertise to provide expert legal advice in relation to the activities of the Authorities. The Board of Appeal is a joint body of the ESAs, introduced to protect effectively the rights of parties affected by decisions adopted by the ESAs. It is an independent and impartial body, responsible for deciding on appeals against certain ESA decisions.  More information on the Board of Appeal is available here.
  • 3 July 2024
ESMA withdraws the CRA registration of EuroRating
ESMA withdraws the CRA registration of EuroRating 19 June 2024 Credit Rating Agencies The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has withdrawn the credit rating agency (CRA) registration of EuroRating Sp. z o.o. The withdrawal decision follows the official notification to ESMA by EuroRating Sp. z o.o. on 15 April 2024 of its intention to renounce their registration under the conditions set out in Article 20(1)(a) of the CRA Regulation (CRAR). The list of registered or certified CRAs has been updated.   Further information: Sarah Edwards Senior Communications Officerpress@esma.europa.eu
  • 3 July 2024
ESAs propose improvements to the sustainable finance disclosure regulation
ESAs propose improvements to the sustainable finance disclosure regulation 18 June 2024 Joint Committee Sustainable finance The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) today published a joint Opinion on the assessment of the Sustainable Finance Disclosure Regulation (SFDR). The ESAs call for a coherent sustainable finance framework that caters for both the green transition and enhanced consumer protection, taking into account the lessons learned from the functioning of the SFDR. The ESAs focus on ways to introduce simple and clear categories for financial products. The simplifications consist of two voluntary product categories, “sustainable” and “transition”, that financial market participants should use to ensure consumers understand the purpose of the products. The rules for the categories should have a clear objective and criteria to reduce greenwashing risks.  The ESAs recommend that the European Commission consider the introduction of a sustainability indicator that would grade financial products such as investment funds, life insurance and pension products. In addition, the Opinion also covers the following areas: appropriate disclosures for products outside the two categories to reduce greenwashing, improvements to the definition of sustainable investments, simplification to the way disclosures are presented to investors, other technical suggestions including on which products should fall under the scope of SFDR and on how to improve disclosures regarding the negative impact of investments on people and the environment, and the need for consumer testing before putting forward any policy proposals to review the SFDR, such as to introduce a categorisation system and/or an indicator. Background The ESAs deliver this Opinion on their own initiative. The Opinion is published in the context of a comprehensive review of the SFDR framework by the European Commission, which includes the SFDR regulation and Delegated Regulation. Going forward, the ESAs are ready to support the European Commission in future policy considerations on any review of the SFDR framework.   Further information: Dan Nacu-Manole Communications Officerpress@esma.europa.eu 18/06/2024 JC 2024 06 Joint ESAs Opinion on the assessment of the Sustainable Finance Disclosure Regulation (SFDR)