Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March on short selling and certain aspects of credit default swaps (the Regulation) requires ESMA to develop draft regulatory (RTS) and implementing technical standards (ITS) in relation to several provisions contained in Articles 9, 11, 12 and 16 of the Regulation.
ESMA has consulted market participants on the proposed draft RTS and ITS through a public consultation launched on 24 January 2012 (Consultation Paper ESMA/2012/30). The Securities and Markets Stakeholder Group (SMSG) established under the Regulation (EU) No 1095/2010 establishing the European Supervisory Authority (ESMA Regulation) was also requested to provide an opinion in accordance with Articles 10 and 15 of that regulation.
Contents
ESMA has considered the feedback it received to the consultation in drafting these RTS and ITS in accordance with Articles 10 and 15 of the ESMA Regulation. This document sets out a summary of the responses received by ESMA, and describes any material changes to the proposed technical standards. It also includes in the Annex II a cost-benefit analysis on which ESMA was not able to consult as explained in the consultation paper (ESMA/2012/30). Finally, it contains the final draft RTS and ITS to be submitted to the European Commission.
Full report
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