ESMA issued five positive opinions on product intervention measures taken by the National Competent Authorities (NCAs) of Finland, Lithuania and Spain.
ESMA’s opinion finds that the proposed measures are justified and proportionate and that it is necessary for NCAs of other Member States to take product intervention measures that are at least as stringent as ESMA’s measures.
ESMA has issued opinions on national product intervention measures from:
Finanssivalvonta of Finland (FSA);
Finanssivalvonta of Finland (FSA);
Bank of Lithuania (LB);
Bank of Lithuania (LB); and,
Comisión Nacional del Mercado de Valores of Spain (CNMV).
Background
NCAs may take product intervention measures in accordance with Article 42 of Regulation (EU) No 600/2014. At least one month before a measure is intended to take effect, an NCA must notify all other NCAs and ESMA of the details of its proposed measure and the related evidence, unless there is an exceptional case where it is necessary to take urgent action
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