The European Council yesterday agreed its position to update and increase the role of the Agency for the Coordination of Energy Regulators (ACER), who are, amongst other things, responsible for many parts of REMIT, including data collection and cross market monitoring, as well as other areas such as network codes. The press release from the Council can be found here.  While ACER use the data collected to monitor, and continue to push the regulation forward, for example in issuing papers on different types of abuse (see here) and on the disclosure of inside information (see here), there is a dependency in many respects on National Regulatory Authorities in member states.

On the topic of convergence, Verena Ross, Executive Director of ESMA has given this speech about the desire for regulatory convergence across EU member states. The speech also covers the issue of the interaction with third countries, including the UK after Brexit.

Those wishing to improve their knowledge of on the various regulations such as REMIT, EMIR, MiFID II, MAR and also Finfrag and the impact of Brexit, can still book onto a course being given in Geneva on 20th June entitled “What Can Go Wrong: Commodities Regulation and Compliance in 2018” as part of the International Commodities and Derivatives Association. More details can be found here.