Council of the European Union Brussels, 23 June 2015 (OR. en)

Transcription

1 Conseil UE Council of the European Union Brussels, 23 June 2015 (OR. en) PUBLIC 1759/15 ADD 2 LIMITE NOTE From: To: Subject: General Secretariat of the Council / Secretariat of the Financial Service Committee Delegations FSC Report on Level 2 Processes Delegations will find attached the following Annex: Annex 6 - DG FISMA's planning on level 2 legislative measures (DA and RTS) in the area of financial services, dated 3 March /15 ADD 2 MT/JLF/sv 1

2 Annex 6 - DG FISMA's planning on level 2 legislative measures (DA and RTS) in the area of financial services, dated 3 March 2015 EUROPEAN COMMISSION - Directorate-General for Financial Stability, Financial Services and Capital Markets Union Planning Level 2 legislative measures (DA and RTS) in the area of financial service Report to the EP/Council - Date: 3 March 2015 DEADLINE ESAs PLANNED DATE OF ADOPTION Level1 LEGISLATIVE ACT ARTICLE REFERENCE MEASURE IN PREPARATION TYPE DA, RTS DATE Other than fixed date set out in the Level1 legislative act Estimation DATE known REAL DATE OF FORMAL SUBMISSION TO THE COMMISSION Directive 2002/92/EU on insurance mediation as amended by Directive 2014/65/EU (MiFID II) Directive 2003/71/EC on the prospectus, as amended 91 Conflicts of interest in insurance distribution 7(1) Commission Delegated Regulation (EU) amending Regulation (EC) No 809/2004 implementing Directive 2003/71/EC as regards elements related to prospectuses and advertisements DA 13/02/ /2015 DA 03/ /15 ADD 2 MT/JLF/sv 2

3 Directive 2003/71/EC on the prospectus, as amended 11, 13, 14 and 15 COMMISSION DELEGATED REGULATION (EU) No /.. of [ ] supplementing Directive 2003/71/EC with regard to regulatory technical standards for incorporation by reference, approval and publication of the prospectus and dissemination of advertisements RTS 1/07/ /2015 Directive 2004/10/EC on transparency 23(4) Commission Delegated amending Regulation (EC) No 1569/2007 establishing a mechanism for the determination of equivalence of accounting standards applied by third country issuers of securities pursuant to Directives 2003/71/EC and 2004/109/EC DA 03/2015 Directive 2004/39/EC on markets in financial instruments (MiFID1) as amended by Directive 2010/78/EU (OmnibusI) 10a(8) COMMISSION DELEGATED REGULATION (EU) No /.. of XXX on [ ] supplementing Directive 2004/39/EC of the European Parliament and of the Council with regard to regulatory technical standards for an exhaustive list of information to be included by proposed acquirers in the notification of a proposed acquisition of a qualifying holding in an investment firm RTS 1/01/ / /12/ /15 ADD 2 MT/JLF/sv 3

4 Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) as amended by Directive 2014/51/EU (OmnibusII) 172, 227, 260 Temporary or full equivalence Delegated Regulations for countries still to be determined DA 09/2015 Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) as amended by Directive 2014/51/EU (OmnibusII) 227(5) Provisional Equivalence regarding group solvency calculation for Australia, Bermuda, Brazil, Canada, Mexico, USA DA 04/2015 Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) as amended by Directive 2014/51/EU (OmnibusII) 172, 227, 260 Full equivalence Switzerland DA 04/2015 Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) as amended by Directive 2014/51/EU (OmnibusII) 17(3) Legal form of the insurance or reinsurance undertaking DA 1759/15 ADD 2 MT/JLF/sv 4

5 Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) as amended by Directive 2014/51/EU (OmnibusII) 135(1)(a) PPP - identification and management of risks DA Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) as amended by Directive 2014/51/EU (OmnibusII) 135(1)(b) PPP - risks related to derivatives DA Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) as amended by Directive 2014/51/EU (OmnibusII) 258(3) Enforcement measures in groups DA Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) as amended by Directive 2014/51/EU (OmnibusII) 308b(15) Shortening of IORP transitional DA 1759/15 ADD 2 MT/JLF/sv 5

6 Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) as amended by Directive 2014/51/EU (OmnibusII) 308b(17) Changes in the group solvency when various transitionals measures in groups (actually, only the equity risk transitional because of a typo) DA Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) as amended by Directive 2014/51/EU (OmnibusII) Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) as amended by Directive 2014/51/EU (OmnibusII) Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) as amended by Directive 2014/51/EU (OmnibusII) 58(8) Qualified holdings - info to be notified 58(8) Qualified holdings - adjustments to L1 criteria 111(4) Quantitative limits and asset eligibility RTS RTS 31/12/2014 RTS 1759/15 ADD 2 MT/JLF/sv 6

7 Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) as amended by Directive 2014/51/EU (OmnibusII) 143(2) Recovery plans and the finance scheme RTS 03/2015 Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) as amended by Directive 2014/51/EU (OmnibusII) 248(6) Colleges - functioning RTS 1759/15 ADD 2 MT/JLF/sv 7

8 Directive 2009/65/EC (UCITS IV) as amended by Directive 2010/78/EU (Omnibus Directive) and Directive./../EU (UCITS V) 22 (2), (3), (4), (5); 22a(2), 22a(3), 24, 24 (1), 25 (2) 1)The particulars that need to be included in the written contract; 2) The conditions for performing the depository functions; 3) The due diligence duties of depositairies; 4) The segregation obligation; 5) The steps to be undertaken by the third party; 6) Circumstances in which financial assets in custody are lost; 7) External events beyond reasonable control; 8) Conditions for fulfilling the independence requirement The segregation obligation The steps to be undertaken by the third party Circumstances in which financial asetws in custody are lost External events beyond reasonable control Conditions for fulfilling the independence requirement DA 09/2015 Directive 2009/65/EC (UCITS IV) as amended by Directive 2010/78/EU (Omnibus Directive) and Directive./../EU (UCITS V) 50bis Repackage of loands into tradable securities DA 1759/15 ADD 2 MT/JLF/sv 8

9 Directive 2011/61/EU on Alternative Invetsment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No1060/2009 and (EU) No 1095/2010 as amended by Directive 2013/14/EU Directive 2011/61/EU on Alternative Invetsment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No1060/2009 and (EU) No 1095/2010 as amended by Directive 2013/14/EU Directive 2011/61/EU on Alternative Invetsment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No1060/2009 and (EU) No 1095/2010 as amended by Directive 2013/14/EU 68(5) Measures specifying the contents of the information to be provided by the CA to ESMA in view of terminating national regimes 68(6) Measures terminating national regimes and installing a sole and mandatory regime in all the Member States for the 3rd country AIFM passport 67(6) Switching on 3rd country AIFM passport DA 12/2018 DA 07/2019 DA 22/07/ / /15 ADD 2 MT/JLF/sv 9

10 Directive 2011/61/EU on Alternative Invetsment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No1060/2009 and (EU) No 1095/2010 as amended by Directive 2013/14/EU 35(14), 35(13) Procedures for coordination and exchange of information and on minimum content of the cooperation arrangements between the competent authority of the home Member States and the competent authorities of the host Member States of the AIFM RTS Directive 2011/61/EU on Alternative Invetsment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No1060/2009 and (EU) No 1095/2010 as amended by Directive 2013/14/EU 37 (17), 37(18) Procedures for coordination and exchange of information, and RTS on the minimum content of cooperation between the competent authority of the Member States of reference and the competent authorities of the host Member States of AIFM RTS Directive 2011/89/EU on supplementary supervision of credit institutions, insurance undertaking and investment in a financial conglomerate (FICOD) 21a (1a) Risk concentration and intragroup transactions under Article 21a (1a) RTS 1/01/2015 Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment 78(7) Benchmarking Exercise RTS 31/12/ / /02/ /15 ADD 2 MT/JLF/sv 10

11 Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment 51(4), 116(4) Functioning of colleges RTS 31/12/ /2015 Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment Directive 2014/49/EU on deposit guarantee schemes Directive 2014/56/EU amending Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts Directive 2014/56/EU amending Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts Directive 2014/56/EU amending Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts 8(2) Authorisation of credit institutions 6(7) To adjust the amount referred to in Article 6(6) at least every five years 26(3) Adoption of International Standards on Auditing 45(6) Equivalence criteria of the standards and requirements in the third country 46(2) Equivalence criteria of the systems of public oversight, quality assurance and investigations and penalties in the third country RTS 31/12/ /2016 DA DA DA DA 1759/15 ADD 2 MT/JLF/sv 11

12 Directive 2014/56/EU amending Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts 47(3) Establishment of general adequacy criteria DA Directive 2014/59/EU establishing a framework for the recovery and resolution of credit 2 (2); 44 (11); 104 (4) Commission Delegated Regulation on critical functions and core business lines, burden shifting in bail-in and ex-post contributions to the resolution funds, pursuant respectively to Articles 2 (2), Article 44 (11) and Article 104 (4) BRRD. DA 31/01/ /2015 Directive 2014/59/EU establishing a framework for the recovery and resolution of credit Directive 2014/59/EU establishing a framework for the recovery and resolution of credit 76 (4) Safeguards for counterparties in partial transfer (Article 76(4)of the BRRD) 4(6), Assessment of the impact of an institution's failure on financial markets, on other institutions and on funding conditions, with a view to granting simplified obligations as regards preparation of recovery and resolution plans. DA 1/05/ /2015 RTS 3/07/ / /15 ADD 2 MT/JLF/sv 12

13 Directive 2014/59/EU establishing a framework for the recovery and resolution of credit 5(10), 6(8), 10(9), 12(6), 15(4). Content of recovery plans (Article 5(7) of the BRRD) Assessment of recovery plans (Article 6(8) of the BRRD) Content of resolution plans (Article 10(5) of the BRRD) Content of group resolution plans (Article 12(6) of the BRRD) Assessment of resolvability (Article 15(4) of the BRRD) RTS 3/07/ /2015 Directive 2014/59/EU establishing a framework for the recovery and resolution of credit 88(7), 23(2), 36(14), 45(2), 55(3), 71 (8), 82(3) Resolution colleges (Article 88(7) of the BRRD) Conditions group financial support (Article 23(2) of the BRRD) Independence of valuers (Article 36(14) of the BRRD) MREL criteria (Article 45(2) of the BRRD) Contractual recognition (Article 55(3) of the BRRD) Records of financial contracts (Article 71 (8) of the BRRD) Notification requirements (Article 82 (3) ) RTS 3/07/ /2015 Directive 2014/59/EU establishing a framework for the recovery and resolution of credit 27(5) Specification of a minimum set of triggers for the use of the measures referred to in Art. 27(1) RTS may 1759/15 ADD 2 MT/JLF/sv 13

14 Directive 2014/59/EU establishing a framework for the recovery and resolution of credit 36(15), 74(4), 49(5), 52(12) Valuation methodology (Article 36(15) of the BRRD) Ex-post valuation (Article 74(4) of the BRRD Valuation of derivatives (Article 49(5) of the BRRD) Business reorganisation plans (Article 52(12) of the BRRD) RTS 3/01/2016 may; may; shall; shall 04/2016 Directive 2014/59/EU establishing a framework for the recovery and resolution of credit 52(14) Further specification of the minimum criteria that a business reorganisation plan is to fulfil for approval by the resolution authority pursuant to Art. 52(7) RTS may 1759/15 ADD 2 MT/JLF/sv 14

15 Directive 2014/65 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (recast) 2(1c), 4(1)(2), 4(2), 13(1), 16(12), 23(4), 27(9), 28(3), 30(50), 31(4), 32(4), 33(8), 52(4), 54(4), 58(6), 64(7), 65(7), 79(8), 24(13), 25(8) 1)Persons providing investment service in an incedental manner 2)Derivatives contracts 3)Technical elements of definitions 4)Suitability of acquirers of investment 5)Organisational requirements for investment and third country branches 6)Criteria and prevention/mangement of conflict of interest 7)Best execution obligation 8)Client order handling rules 9)Eligible counterparties 10)Information requirement MAR violations or system disruptions to NCAs by MTFs and OTFs 11)Suspension and removal of financial instruments 12)SME growth markets 13)Suspension and removal of financial instruments from trading on trading venues 14) Position reporting 15)Information published by APAs 16) Access to data streams made available to the public by consolidated tape providers 17)Trading venue of substantion importance to determine cooperation arragements 18)Information to client, assessment of range of financial instruments and inducements 19)Suitability and appropriateness of and reporting to clients DA 3/01/ / /15 ADD 2 MT/JLF/sv 15

16 Directive 2014/65 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (recast) 2(4), 7(4), 12(8), 17(7), 27(10), 34(8), 35(11), 48(12), 49(3), 49(4), 50(2), 51(6), 52(2), 57(3), 57(12), 61(4), 64(6), 64(8), 65(6), 65(8), 66(5), 80(3), 32(2) 1)Ancillary activity 2)Autorisation under MIFID 3)Acquisitions of investment 4)Alghoritmitic trading 5)Information for best execution 6)+ 7)Information cross-border services 8)Specifications regulated markets regarding systems resilience, circuit breakers and electronic trading 9)+10) Minimum tick sizes or tick size regimes 11)Level of accuracy to which clocks are to be synchronised 12)Trading of financial instruments on regulated markets 13)Suspention and removal of financial instruments from trading 14)+15) Position limits 16)Data reporting service providers for authorisation 17)Formats, data standards and technical arrangements facilitating the consolidation of information 18)APAs information obligations 19)CTP data standards and formats 20)CTP publication obligations 21)SRM information obligations 22)Information to be exchanged between competent authorities 23)Suspension and removal of underlying derivative of financial instruments from trading on MTFs or OTFs RTS 3/07/ / /15 ADD 2 MT/JLF/sv 16

17 Directive 2014/92/EU on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features 3 EU standardised terminology on payment account fees RTS 24 months from entry into force of the Directive 09/2016 Regulation (EC) n 1060/2009 on credit rating agencies, as amended by Regulation (EU) n 462/ DA to amend the Annexes DA Regulation (EC) n 1060/2009 on credit rating agencies, as amended by Regulation (EU) n 462/2013 Regulation (EU) N./... on reporting and transparency of securities financiang transactions Regulation (EU) N./... on reporting and transparency of securities financiang transactions 5(6) para 3 DA to amend or further specify criteria for equivalence 13 (3) to amend section A of the Annex in order to reflect teh evolution of market practices and technological developments 14(3) to amend section B of the Annex in order to reflect teh evolution of market practices and technological developments DA DA DA 1759/15 ADD 2 MT/JLF/sv 17

18 Regulation (EU) N 600/2014 on markets in financial instruments and amending Regulation (EU) N 648/ (7), 45(10), 1(9), 2(2), 13(2), 15(5), 17(3), 19(2), 19(3), 31(4), 40(8), 41(8) 1)Criteria to frame ESMA product intervention powers 2)Criteria for ESMA position management powers 3)Empowerment for possible excemption from transparency for non-equity to non EU central banks 4) General empowerment 5)Specification of reasonable commercial basis for provision of pre- and post trade data for trading venues all financial instruments 6)Systematic internalisers Identification of what constitues reasonable commercial basis to make quote public7)systematic internalisers - pre-trade transparency specifications equity (more detail) 8)Systematic internalisers -determination of sizes specific to the instrument 9)Systematic internalisers - specification on what constitutes a reasonable commercial basis 10)Elements of portfolio compression 11)Criteria to frame ESMA temporary intervention powers12)criteria to frame EBAs temporary intervention powers DA 3/01/ /2015 Regulation (EU) N 600/2014 on markets in financial instruments and amending Regulation (EU) N 648/ (7) Specifications on third country EU registration with ESMA RTS 3/07/ / /15 ADD 2 MT/JLF/sv 18

19 Regulation (EU) N 600/2014 on markets in financial instruments and amending Regulation (EU) N 648/2012 1(9) ESCB excemption from transparency requirements nonequity RTS 3/07/ /2015 Regulation (EU) N 600/2014 on markets in financial instruments and amending Regulation (EU) N 648/2012 4(6), 7(2), 14(7), 20(3), 23(3) 1)Waivers pre-trade transparency for equity 2)Post-trade transparency equity 3)Systematic internalisers pretrade transparency specifications equity 4)Systematic internalisers - Posttrade disclosure non-equity 5)Specifications of what constitutes technical trades- for shares RTS 3/07/ /2015 Regulation (EU) N 600/2014 on markets in financial instruments and amending Regulation (EU) N 648/2012 5(9), 22(4) 1)Volume cap for pre-trade equity 2)Specifications on data reporting of trading venues, APAs and CTPs RTS 3/07/ /2015 Regulation (EU) N 600/2014 on markets in financial instruments and amending Regulation (EU) N 648/2012 9(5), 11(4), 21(5) 1)Pre-trade transparency nonequity 2)Post-trade transparency nonequity 3)Systematic internalisers - specifications instrument identifier RTS 3/07/ / /15 ADD 2 MT/JLF/sv 19

20 Regulation (EU) N 600/2014 on markets in financial instruments and amending Regulation (EU) N 648/2012 Regulation (EU) N 600/2014 on markets in financial instruments and amending Regulation (EU) N 648/2012 Regulation (EU) N 600/2014 on markets in financial instruments and amending Regulation (EU) N 648/2012 Regulation (EU) N 600/2014 on markets in financial instruments and amending Regulation (EU) N 648/2012 Regulation (EU) N 600/2014 on markets in financial instruments and amending Regulation (EU) N 648/2012 Regulation (EU) N 600/2014 on markets in financial instruments and amending Regulation (EU) N 648/ (2) Specifications on the obligation to provide pre-trade and posttrade transparency data for trading venues 25(3) Specifications on record keeping for investment for the purpose of transaction reporting 26(9) Transaction reporting standards and criteria for defining a relevant market for the purposes of information sharing among NCAs 27(3) Specifications on financial instrument reference data details for the purpose of transaction reporting 28(5) Specification on trading obligation for derivatives 29(2) Specification on straight through processing for derivatives RTS 3/07/ /2015 RTS 3/07/ /2015 RTS 3/07/ /2015 RTS 3/07/ /2015 RTS 3/07/ /2015 RTS 3/07/ / /15 ADD 2 MT/JLF/sv 20

21 Regulation (EU) N 600/2014 on markets in financial instruments and amending Regulation (EU) N 648/2012 Regulation (EU) N 600/2014 on markets in financial instruments and amending Regulation (EU) N 648/2012 Regulation (EU) N 600/2014 on markets in financial instruments and amending Regulation (EU) N 648/ (2) Specifications on indirect clearing arrangements for derivatives 32(1) Determination of trading obligation for derivatives 32(6) Criteria for liquidity of derivatives for the purpose of trading obligation RTS 3/07/ /2015 RTS 3/07/ /2015 RTS 3/07/ /2015 Regulation (EU) N 600/2014 on markets in financial instruments and amending Regulation (EU) N 648/ (6), 36(6), 37(4) 1)Specifications of refusal and permission of access to CCP 2)Specifications of refusal and permission of access to trading venues 3)Specifications of right to access to benchmarks RTS 3/07/ / /15 ADD 2 MT/JLF/sv 21

22 1286/2014 on key information documents for packaged retail and insurance based investment products 8(5) Through the Joint Committee specifying:(1) the details of the presentation and the content of each of the elements of information referred to in paragraph 3; (2)the methodology underpinning the presentation of risk and reward as referred to in point (d) (i) and (iii) of paragraph 3; and (3) the methodology for calculation of costs, including the specification of summary indicators, as referred to in point (f) of paragraph 3. RTS 31/03/ / /15 ADD 2 MT/JLF/sv 22

23 1286/2014. on key information documents for packaged retail and insurance based investment products 10(2), 12(5) 1) Specifying: (1)the conditions, and, in any case, the minimum frequency for reviewing the information contained in the key information document; (2) the conditions under which information contained in the key information document must be revised; (3) the specific conditions under which information contained in the key information document must be reviewed or the key information document revised where an PRIIP is made available to retail investors in a non-continuous manner; (4) the circumstances in which retail investors are to be informed about a revised key information document for a PRIIP purchased by them, as well as the means whereby the retail investors are to be informed.; 2) Specifying the conditions for fulfilling the requirement to provide the key information document as laid down in paragraph 1. RTS 31/12/ / /201. on European Long-term Investment Funds 16(6) Circumstances when an ELTIF's life is to be considered sufficiently long to cover the life-cycle of the ELTIF's individual assets RTS 11/ /15 ADD 2 MT/JLF/sv 23

24 .../201. on European Long-term Investment Funds.../201. on European Long-term Investment Funds.../201. on European Long-term Investment Funds 19(3) Criteria for assessing the market for potential buyers and for valuing assets to be divested 22(4) Common definition,calculation methodology and format of costs, overall ratio and total costs 23(3) Specifying types and characteristics of facilities available to investors RTS 11/2015 RTS 11/2015 RTS 11/ /201. on European Long-term Investment Funds 8(2) RTS RTS 11/ /201. on Money Market Funds.../201. on Money Market Funds.../201. on Money Market Funds 13(6) Quantitative and qualitative liquidity requirements and credit quality requirements for assets received as part of a reverse repo 19 Specifying different aspects related to internal assessment procedure and internal ratings 10(2) Conditions and circumstances determining when underlying exposures or pool exclusively consists of debt; conditions and thresholds determining high credit quality and liquid corporate debt DA DA RTS 1759/15 ADD 2 MT/JLF/sv 24

25 1286/2014 on key information documents for packaged retail and insurance based investment products 8(4) Specifying the details of the procedures used to establish whether a PRIIP targets specific environmental or social objectives. DA 12/ /15 ADD 2 MT/JLF/sv 25

26 1286/2014 on key information documents for packaged retail and insurance based investment products 15(8), 16(7) Specifying criteria and factors to be taken into account by EIOPA in determining when there is a significant investor protection concern or a threat to the orderly functioning and integrity of financial markets or to the stability of the whole or part of the financial ; system of the Union referred to in point (a) of paragraph 2. Those criteria and factors shall include: (1) the degree of complexity of the insurance-based investment product and the relation to the type of client to whom it is marketed, distributed or sold; (2) the size or the notional value of the insurance-based investment products; (3) the degree of innovation of the insurance-based investment product, an activity or a practice; and (4) the leverage a product or practice provides.; 2)specifying criteria and factors to be taken into account by competent authorities in determining when there is a significant investor protection concern or a threat to the orderly functioning and integrity of financial markets or to the stability of the financial system DA 06/ /15 ADD 2 MT/JLF/sv 26

27 345/2013 on European venture capital funds 9(5) To specify: (1)the types of conflicts of interest as referred to in Art 9(2); (2) the steps venture capital managers are expected to take, in terms of structures and organisational and administrative procedures in order to identify, prevent, manage, monitor and disclose conflicts of interest. DA 09/ /01/ /15 ADD 2 MT/JLF/sv 27

28 346/2013 on European social entrepreneurship funds 3(2), 9(5), 10(2), 14(4) 1) Definition of a 'qualifying portfolio undertaking'; to specify the types of services or goods and the methods of production of good or services that embody a social objective referred to in Art 3(1)(d)(iii).; 2)To specify: (1) the types of conflicts of interest as referred to in Art 9(2); (2) the steps that managers of a qualifying social entrepreneurship fund (EuSEF) must take, in terms of structures and organisational and administrative procedures in order to identify, ; 3) Procedures to measure the positive social impact to which a EuSEF is committed; to specify the details of the procedures referred to in Art 10(1), in relation to different qualifying portfolio undertakings; 4) Investor information; to specify: (1) the content of the information referred to in Art 26(1), points (c) to (f); (2) how the information referred to in Art 26(1), points (c) to (f) and (l), can be presented in a uniform way in order to ensure the highest possible level of comparability. DA 09/ /01/ /15 ADD 2 MT/JLF/sv 28

29 537/2014 on specific requirements regarding statutory audit of publicinterest entities 9 Adoption of International Standards on Auditing DA 36(2), 73(7), 84(4) Own Funds Part 3 RTS 1/01/ / /12/ (5) The use of derogations for currencies with insufficient liquid assets 423(3) Additional collateral outflows on derivatives contracts RTS 31/03/ / /03/2014 RTS 31/03/ /03/ (14) Prudent valuation adjustments RTS 1/06/ / /03/ (3) Grandfathering of SA approach for equity exposures RTS 30/06/ /2015 5/08/ /15 ADD 2 MT/JLF/sv 29

30 150(3), 152(5) Permanent partial use of SA RTS 30/06/ (4) Mortgage Lending Value RTS 31/12/ / Roll out RTS 31/12/ (6) Definition of default - Thresholds for past due items RTS 31/12/ / (3)(a), 181(3)(b), 182(4)(b) PD estimation (data waiver) RTS 31/12/ / /12/ (4)(a) Assessment methodologies for the Advanced Measurement Approaches for operational risk RTS 31/12/ / /15 ADD 2 MT/JLF/sv 30

31 363(4)(a) Materiality of model extensions and changes (market risk) RTS 31/12/ /2015 4/07/ (2) Countercyclical buffer disclosures RTS 31/12/ / /12/ (2), 173(3), 180(3)(b) PD estimation RTS 31/12/ / (4)(b), 164(6) Risk weights for mortgage lending RTS 31/12/ / (9) Risk weights for specialised lending exposures RTS 31/12/ / (3), 182(4)(a) Own downturn LGD RTS 31/12/ / /15 ADD 2 MT/JLF/sv 31

32 183(6) Conditions for conditional guarantees RTS 31/12/ / (4)(b) Assessment methodology RTS 31/12/ / (8) Main Indices in Recognised Exchanges RTS 31/12/ / /02/ (9)(10), 425 (5)(6) Criteria for intragroup inflows and outflows RTS 1/01/ / (5) CVA Risk Own Funds Requirements 194(10) Eligible collateral within CRM framework RTS 30/06/ /2015 RTS 30/09/ / /15 ADD 2 MT/JLF/sv 32

33 221(9) Immaterial portfolios RTS 31/12/ / Disclosures of unencumbered asset 314(5) Combined use of different approaches 316(3) Relevant indicator under accounting standards 410(2) Correcting act on Securitisation retention requirement RTS 1/01/ /2016 RTS 31/12/ /2017 RTS 31/12/ /2018 RTS 03/ /15 ADD 2 MT/JLF/sv 33

34 596/2014 on insider dealing and market manipulation 19(13), 6(6), 17(3), 19(14), 12(5), 6(5), 17(2) 1)Managers transactions 2)Extension of the exemption for climate policy to public bodies of third countries that have a linking agreement with the EU in the meaning of Article 25 of Directive 2003/87/EC 3)Public disclosure of inside information 4)Managers Transactions 5)Indicators of MM 6)Exemption for monetary and public debt management activities 7)Public disclosure of inside information DA 2/03/ / /2014 on insider dealing and market manipulation 4(4), 26(2), 5(6), 13(7), 16(5), 11(9), 20(3), 1)Notification and list of financial instruments 2)Cooperation with third countries 3)Buy back 4)Accepted Market Practices 5)Prevention and detection of market abuse 6)Market sounding 7)Investment recommendations RTS 2/07/ / /2012 on OTC derivatives, central counterparties and trade repositories (EMIR) 85(2) Possible extension of pension funds exemption DA 05/ /2012 on OTC derivatives, central counterparties and trade repositories (EMIR) 5(2) Clearing obligation RTS 18/09/ /2015 1/10/ /15 ADD 2 MT/JLF/sv 34

35 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR) 11(15) Margins RTS 30/09/ / /2014 on Single Resolution Mechanism 19(8) Detailed rules of procedure concerning (a) the calculation of the interest rate to be applied in the event of a recovery decision in accordance with paragraph 5; (b) the guarantees of the right to good administration and the right of access to documents referred to in paragraph 5. DA 12/ /2014 on Single Resolution Mechanism 65(5), 75(4) 1) (a) Determine the type of contributions and the matters for which contributions are due, the manner in which the amount of the contributions is calculated, and the way in which they are to be paid; (b) specify registration, accounting, reporting and other rules referred to in paragraph 3 necessary to ensure that the contributions are paid fully and in a timely manner. 2) Detailed rules for the administration of the Fund and general principles and criteria for its investment strategy DA 12/ /15 ADD 2 MT/JLF/sv 35

36 806/2014 on Single Resolution Mechanism 69(5), 71(3) 1) Criteria for (a) the spreading out in time of the contributions to the Fund calculated under Art. 69(2); (b) determining the number of years by which the initial period referred to in paragraph 1 can be extended under Art. 69(3); (c)establishing the annual contributions provided for in Art. 69(4). 2) Specify the circumstances and conditions under which the payment of ex-post contributions by an entity referred to in Article 2 may be partially or entirely deferred pursuant to paragraph 2 of this Article DA 30/04/ / /2014 on improving securities settlement in the European Union and on central securities depositories (CSDs) 2(2) Further specification of ancillary services listed in Section A and B of Annex DA 909/2014 on improving securities settlement in the European Union and on central securities depositories (CSDs) 7(13) Penalties for settlement fails DA 18/06/ / /15 ADD 2 MT/JLF/sv 36

37 909/2014 on improving securities settlement in the European Union and on central securities depositories (CSDs) 909/2014 on improving securities settlement in the European Union and on central securities depositories (CSDs) 909/2014 on improving securities settlement in the European Union and on central securities depositories (CSDs) 24(7) Criteria to determine that CSD operations could be considered of substantial importance in a host MS 6(4), 7(14) 1) Measures to prevent settlement fails; 2) Details of the measures under settlement discipline 9(2) Content of reporting by settlement internalisers DA 18/06/ /2015 RTS 18/06/ /2015 RTS 18/06/ / /2014 on improving securities settlement in the European Union and on central securities depositories (CSDs) 12(3), 17(9), 22(10), 25(12), 55(7) 1) Conditions under which Union currencies are considered to be the most relevant and practical arrangements for consultations with relevant authorities; 2) Information to be provided for authorisation of CSD; 3) Review and evaluation; 4) Information for application by third country CSD for recognition; 5) Procedure for granting and refusing authorisation of CSD to provide banking type of ancillary services RTS 18/06/ / /15 ADD 2 MT/JLF/sv 37

38 909/2014 on improving securities settlement in the European Union and on central securities depositories (CSDs) 18(4), 26(8), 29(3), 33(5), 37(4), 45(7), 46(6), 48(10), 49(5), 52(3), 53(4) 1) Criteria to be taken into account by competent authority to allow participation of CSDs in another entity that provides services other than Section A and B of Annex; 2) Monitoring tools for CSD's risks, reposnsibilities of key personnel, potential conflicts of interest and audit methods; 3) Record keeping; 4) Risks justyfying the refusal of access to participants and procedure; 5) Reconciliation measures; 6) Operational risks; 7) Investement policy; 8) CSD Links; 9) Risks justyfying the refusal of access to issuers and procedure; 10) Risks justyfying the refusal of CSD link and the procedure; 11) Risks justyfying the refusal of access of an infrastructure RTS 18/06/ / /2014 on improving securities settlement in the European Union and on central securities depositories (CSDs) 47(3), 54(8), 59(5) 1) Capital requirements; 2) Additional capital surchage for CSDs providing banking type of ancillary services; 3) Frameowrk and monitoring tools to manage credit and liquidity risks RTS 18/06/ / /15 ADD 2 MT/JLF/sv 38