ESMA has published the official translations of its final “Guidelines on exemption for market making activities and primary market operations under the Short Selling Regulation” (ESMA/2013/158), first published on 1 February, 2013.
Today’s publication of the translated guidelines triggers a transitional period of two months during which national supervisors have to declare whether they intend to comply with the guidelines, or otherwise explain the reasons for non-compliance. According to the ESMA Regulation national supervisors have to make every effort to comply with the Guidelines.
Financial market participants are not required to report whether they comply with these guidelines.
ESMA expects the Guidelines to become effective and to be applied across the EU from 2 June, 2013. The introduction of the Guidelines will help to foster a level playing field, consistency of market practices and convergence of supervisory practices amongst national securities market regulators across the EU.
Press release
Translated guidelines
© ESMA
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