|
|
This final technical advice takes into consideration, where appropriate, comments received during a public consultation earlier this year.
The final technical advice follows a request the EBA received from the European Commission in May 2014. The request asked the EBA to specify the criteria and factors that the EBA and competent authorities should take into account when determining whether there is a significant investor protection concern with regard to structured deposits or a threat to the orderly functioning and integrity of financial markets.
The Markets in Financial Instruments Regulation (MiFIR) established frameworks for intervention powers for structured deposits, which were developed by the EBA, and for financial instruments, which were developed by the European Securities and Markets Authority (ESMA). The two authorities closely liaised and aligned responses to their respective requests for technical advice.
The EBA has developed this final technical advice in accordance with Article 41 and 42 of Regulation the MiFIR. The final technical advice has been sent today to the European Commission.