Regulatory Alerts2024-03-28
AFM Position Paper on Centralisation of Capital Markets Data in the EU
The Dutch Authority for the Financial Markets (AFM) advocates for the centralisation of capital markets data delivery and processing at the European level to enhance regulatory effectiveness and support the Capital Markets Union. The paper proposes that ESMA should manage this central hub, provided that strict conditions regarding data governance, quality standards, and access facilities for National Competent Authorities are met. Implementation should follow a phased approach prioritizing new legislative data flows, high-efficiency transaction reporting, and cross-border financial products to demonstrate immediate benefits.
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