COMMISSION IMPLEMENTING REGULATION (EU) 2018/1105
of 8 August 2018
laying down implementing technical standards with regard to procedures and forms for the provision of information by competent authorities to ESMA under Regulation (EU) 2016/1011 of the European Parliament and of the Council
(Text with EEA relevance)
THE EUROPEAN COMMISSION,
Having regard to Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014 (1), and in particular the third subparagraph of Article 47(3) thereof,
Whereas:
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(1) |
Article 47(2) of Regulation (EU) 2016/1011 requires competent authorities to provide ESMA with all information necessary to carry out its duties. To ensure efficient and effective communication, competent authorities and ESMA should use defined channels of communication, including designated contact persons and standardised forms, for requesting information, acknowledging receipt of requests for information and responding to requests for information. |
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(2) |
The information that competent authorities are required to provide pursuant to Article 47(2) of Regulation (EU) 2016/1011 includes the information needed to enable ESMA to establish and maintain the public register referred to in Article 36(1) of that Regulation, in particular the information listed in points (a), (c) and (d) of that Article and any subsequent changes to that information. Competent authorities and ESMA should be required to agree the technical specifications governing submission of that information to ESMA's website in order to ensure that the information is transmitted accurately and securely. |
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(3) |
The information that competent authorities are required to provide to ESMA under Regulation (EU) 2016/1011 may contain personal data and other sensitive information that is not in the public domain. It is therefore important that the provision of information is governed by appropriate safeguards and confidentiality rules. |
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(4) |
Competent authorities and ESMA should be given sufficient time to put in place procedures for the provision of information set out in this Regulation. This Regulation should therefore start to apply two months after it enters into force, |
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(5) |
This Regulation is based on the draft implementing technical standards submitted by the ESMA to the Commission. |
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(6) |
ESMA has not conducted open public consultations on the draft implementing technical standards on which this Regulation is based, nor has it analysed the potential related costs and benefits, as ESMA concluded that this would have been disproportionate in relation to the scope and impact of the implementing technical standards, taking into account the fact that they would only directly concern the national competent authorities of the Member States, and not market participants. |
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(7) |
ESMA has requested the opinion of the Securities and Markets Stakeholder Group established by Article 37 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council (2), |
HAS ADOPTED THIS REGULATION:
(1) OJ L 171, 29.6.2016, p. 1.
(2) Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).