Regulatory Alerts2014-01-06
Final report on draft technical standards for assessing acquisitions of qualifying holdings in investment firms under MiFID
The European Securities and Markets Authority issued this final report submitting draft regulatory and implementing technical standards to the European Commission for the prudential assessment of acquisitions and increases in qualifying holdings in investment firms. The standards establish an exhaustive list of information requirements for proposed acquirers and standardize cooperation procedures between competent authorities to ensure consistent harmonization across the European Economic Area. ESMA incorporated feedback from its consultation process, including modifications to proportionality principles and third-country acquirer requirements, while maintaining the core framework based on existing sectoral guidelines.
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