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MAR, Uncategorized

ESMA publishes final version of MAR sanctions reporting ITS

ESMA have submitted the final version of the Implementing Technical Standard (ITS) that they are required to write by MAR, which governs how NCAs (National Competent Authorities) are to report information about investigations and sanctions run and imposed. The draft ITS can be found here, with the accompanying press release here.  NCAs are obligated to report annual statistics and information to ESMA, and also to submit information on individual sanctions at the same that the NCA publishes the data.

MAR, which started on 3rd July 2016, outlaws market manipulation and insider trading of financial instruments and related spot commodity trades, as well as requiring many market participants to operate “effective monitoring” spanning organisation, process and procedures and technology.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.

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