ESMA supervision to focus on Brexit, data and cybersecurity
19 February 2019 Paris
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The European Securities and Markets Authority (ESMA) revealed its supervision for this year will focus on data, Brexit and cybersecurity.
The supervision applies to ESMA’s trade repositories (TRs), credit rating agencies (CRAs), and the monitoring of third-country market infrastructures such as third-country central clearing counterparties (TC-CCPs) and third-country central securities depositories (TC-CSDs).
ESMA currently directly supervises eight TRs and 27 CRAs. It also holds responsibility for four certified CRAs and 32 TC-CCPs.
Further priorities will include the recognition of UK CCPs in a no-deal Brexit scenario, fees charged by CRAs and TRs, the effectiveness of internal control systems and the use of new technologies.
In addition, ESMA looks to prioritise TR data quality and access by public authorities, TR business continuity planning, IT process and system reliability, and information security function, CRA portfolio risk and quality of the rating process, as well as CRA cybersecurity.
The supervision applies to ESMA’s trade repositories (TRs), credit rating agencies (CRAs), and the monitoring of third-country market infrastructures such as third-country central clearing counterparties (TC-CCPs) and third-country central securities depositories (TC-CSDs).
ESMA currently directly supervises eight TRs and 27 CRAs. It also holds responsibility for four certified CRAs and 32 TC-CCPs.
Further priorities will include the recognition of UK CCPs in a no-deal Brexit scenario, fees charged by CRAs and TRs, the effectiveness of internal control systems and the use of new technologies.
In addition, ESMA looks to prioritise TR data quality and access by public authorities, TR business continuity planning, IT process and system reliability, and information security function, CRA portfolio risk and quality of the rating process, as well as CRA cybersecurity.
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