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ARTICLE · 19 MARCH 2018

Central Bank Communication: ESMA's Opinions On Brexit

Dillon Eustace
Dillon Eustace
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Dillon Eustace

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As readers will be aware, in July of last year ESMA issued three sectoral specific opinions in the areas of Investment Firms, Secondary Markets and Investment Management (the "Opinions").

IrelandWealth Management
Cillian Bredin
Cillian Bredin
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Background

As readers will be aware, in July of last year ESMA issued three sectoral specific opinions in the areas of Investment Firms, Secondary Markets and Investment Management (the "Opinions"). The Opinions set down principles which were aimed at ensuring consistency across the European Union in the authorisation, supervision and enforcement of UK entities seeking to relocate their operations to a Member State in contemplation of the UK's withdrawal from the EU.

Since the publication of the Opinions, Member States have been reviewing internal processes and procedures to determine whether any amendments to their regimes are required in order to be in a position to demonstrate compliance with the Opinions.

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