Date: 2019-03-22Category: Not ApplicableState: Union GovernmentCountry: Europe
Commission Implementing Regulation (EU) 2019/364 of 13 December 2018 laying down implementing technical standards with regard to the format of applications for registration and extension of registration of trade repositories in accordance with Regulation (EU) 2015/2365 of the European Parliament and of the Council (Text with EEA relevance.)
Executive Summary:
Commission Implementing Regulation (EU) 2019/364 establishes implementing technical standards for the format of applications for registration and extension of registration of trade repositories, in accordance with Regulation (EU) 2015/2365. The regulation specifies how information should be submitted to the European Securities and Markets Authority (ESMA). It mandates a uniform format and unique referencing for application documents to facilitate identification and processing of information.
Key Points / Main Content:
* **Application Format:**
* Applications for registration or extension must follow the format outlined in the Annex of the Regulation.
* Each submitted document must have a unique reference number.
* Trade repositories must clearly identify the specific requirement from Delegated Regulation (EU) 2019/359 that each document addresses.
* Reasons for not submitting information related to a specific requirement must be clearly stated.
* Applications must be submitted in a durable medium.
* **Document Referencing:**
* Each document should include a unique reference number, the title of the document, the relevant article, chapter, section and page number of EU 2019/359 where the information is provided, or the reason why the information is not provided.
* **Entry into Force:**
* This Regulation came into force on the twentieth day following its publication in the Official Journal of the European Union.
Impact Analysis:
* **Trade Repositories:**
* Impact: Trade repositories applying for registration or extension must adhere to the specified format for their applications to ESMA.
* Action Required: Ensure all application documents comply with the format detailed in the Annex, including unique referencing and clear identification of requirements addressed.
* **European Securities and Markets Authority (ESMA):**
* Impact: ESMA will receive applications in a uniform format, facilitating the review and processing of registration and extension requests.
* Action Required: Implement procedures to assess applications based on the new standardized format.
Key Entities Referenced
European Union: A political and economic union of member states located primarily in Europe.
European Commission: An institution of the European Union, responsible for proposing legislation, implementing decisions, upholding the EU treaties and managing the day-to-day business of the EU.
Regulation (EU) 2015/2365: Regulation of the European Parliament and of the Council on transparency of securities financing transactions and of reuse.
European Parliament: One of the legislative bodies of the European Union and one of its seven institutions.
Council of the European Union: One of the legislative bodies of the European Union and one of its seven institutions.
Commission Delegated Regulation (EU) 2019/359: Commission Delegated Regulation supplementing Regulation (EU) 2015/2365 of the European Parliament and of the Council with regard to regulatory technical standards specifying the details of the application for registration and extension of registration as a trade repository
European Securities and Markets Authority (ESMA): A European Union financial regulatory agency and European Supervisory Authority.
Directive 2009/65/EC: Directive of the European Parliament and of the Council on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS).
22.3.2019 EN Official Journal of the European Union L 81/125
COMMISSION IMPLEMENTING REGULATION (EU) 2019/364
of 13 December 2018
laying down implementing technical standards with regard to the format of applications for
registration and extension of registration of trade repositories in accordance with Regulation (EU)
2015/2365 of the European Parliament and of the Council
(Text with EEA relevance)
THE EUROPEAN COMMISSION,
Having regard to the Treaty on the Functioning of the European Union,
Having regard to Regulation (EU) 2015/2365 of the European Parliament and of the Council of 25 November 2015 on
transparency of securities financing transactions and of reuse and amending Regulation (EU) No 648/2012 (1), and in
particular Article 5(8) thereof,
Whereas:
(1) A uniform format for applications to the European Securities and Markets Authority (ESMA) for registration and
extension of registration of trade repositories should ensure that all information required pursuant to
Commission Delegated Regulation (EU) 2019/359 (2) is submitted to, and easily identified by, ESMA.
(2) In order to facilitate the identification of the information submitted by the trade repository, every document
contained in the application should bear a unique reference number.
(3) In accordance with Article 1(3) of Delegated Regulation (EU) 2019/359, where an applicant trade repository
considers that a requirement of Delegated Regulation (EU) 2019/359 is not applicable to it, it must clearly
indicate that requirement in its application and provide an explanation why such requirement does not apply.
Those requirements and explanations should be clearly identified in the application for registration or extension
of registration.
(4) Any information submitted to ESMA in an application for registration or extension of registration of a trade
repository should be provided in a durable medium as defined in Directive 2009/65/EC of the European
Parliament and of the Council (3) to enable its storage for future use and reproduction.
(5) This Regulation is based on the draft implementing technical standards submitted by ESMA to the European
Commission, pursuant to the procedure in Article 15 of Regulation (EU) No 1095/2010 of the European
Parliament and of the Council (4).
(6) ESMA has conducted open public consultations on these draft implementing technical standards, analysed the
potential related costs and benefits and requested the opinion of the Securities and Markets Stakeholder Group
established in accordance with Article 37 of Regulation (EU) No 1095/2010,
HAS ADOPTED THIS REGULATION:
Article 1
Format of the application for registration and extension of registration
1. An application for registration or extension of registration shall be submitted in the format set out in the Annex.
2. The trade repository shall give a unique reference number to each document it submits and shall clearly identify
which specific requirement in Delegated Regulation (EU) 2019/359 the document refers to.
(1) OJ L 337, 23.12.2015, p. 1.
(2) Commission Delegated Regulation (EU) 2019/359 of 13 December 2018 supplementing Regulation (EU) 2015/2365 of the European
Parliament and of the Council with regard to regulatory technical standards specifying the details of the application for registration and
extension of registration as a trade repository (see page 45 of this Official Journal).
(3) Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and
administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (OJ L 302, 17.11.2009,
p. 32).
(4) 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).L 81/126 EN Official Journal of the European Union 22.3.2019
3. An application for registration or extension of registration shall clearly indicate the reasons why information
referring to a certain requirement is not submitted.
4. An application for registration or extension of registration shall be submitted in a durable medium as defined in
Article 2(1)(m) of Directive 2009/65/EC.
Article 2
Entry into force
This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the
European Union.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 13 December 2018.
For the Commission
The President
Jean-Claude JUNCKER22.3.2019 EN Official Journal of the European Union L 81/127
ANNEX
FORMAT FOR AN APPLICATION FOR REGISTRATION OR EXTENSION OF REGISTRATION AS A TRADE REPOSITORY
GENERAL INFORMATION
Date of application
Corporate name of the trade repository
Legal address of the trade repository
The types of securities financing transactions for which the trade repository is
applying to be registered
Name of the person responsible for the application
Contact details of the person responsible for the application
Name of the person(s) responsible for the compliance for the trade repository
or involved in compliance assessments for the trade repository
Contact details of the person(s) responsible for the compliance for the trade re
pository or involved in compliance assessments for the trade repository
Identification of any parent company or any subsidiaries
DOCUMENT REFERENCES(1)
Unique reference Chapter/section/page of the document
Title of the
Article of (EU) 2019/359 number of the where the information is provided or reason
document
document why the information is not provided
(1) For all information required in Commission Delegated Regulation (EU) 2019/359 with the exception of points (a), (c) and (g) of
Article 1 thereof.