This first phase is Reaction paper to commission delegated regulation by a factory audit, with which the appointed notified body verifies if the quality system of the manufacturer at his factory can assure over time constancy in order to preserve for the serial production the declared essential characteristics of the tested specimen.
Making available on the market means any supply for distribution or use on the Union market in the course of commercial activity be it for payment or free of charge.
The artificially wide tick sizes for third country instruments are not only a case of competitive disadvantage for trading venues in the Union versus non-EU trading venues, but also reflects the unlevelled playing field within the EU. Even though not expressively stated in the CPR, the DoP and all accompanying documents are considered legal documents and shall not be altered but supplied as they have been provided by the manufacturer.
The final versions of the following delegated acts were published in the Official Journal of the European Union on 31 March In our response, FESE therefore suggest modifications to option d with regard to: The first time a product is made available is therefore defined as placing on the market.
Contrary to common practice and knowledge the manufacturer is not exclusively responsible for a compliant making available of the product. In particular, these draft technical standards related to authorisation, passporting, non-EEA firms, and co-operation between regulators.
We consider that option d may strike a reasonable balance between the regulatory objectives of harmonising tick sizes for non-EU shares across the EU, avoiding competitive distortions between the EU and third countries, as well as within the EU, and establishing a workable and efficient process.
Thus, with the CE marking of construction products, the manufacturer takes on both responsibilities, the conformity of the product and the fulfillment of the essential characteristics.
However, we consider that targeted amendments to this option are required to effectively deliver on these objectives. However, this has now been delayed by one year, so that the legislation will become effective by 3 January Also, an importer or distributor may be considered to act as a manufacturer and is thus subject to all obligations for manufacturers in cases where he places a product on the market under his name or trademark or modifies a construction product already placed on the market.
We therefore urge regulators and policy makers to ensure that Systematic internalisers are not only required to comply with the tick size regime for orders up to standard market size, but are fully captured by the tick size regime irrespective of the order size.
A positive audit leads to the issuing by the notified body of the Certificate of Constancy of Performance with which the manufacturer is authorized to issue the Declaration of Performance for his certified construction product.
In order to maintain a level playing field between EU and non-EU venues, FESE supports that where the legal headquarter of the issuer is established in or the main pool of liquidity is located in third countries following the EU tick size regime, NCAs and trading venues in the Union should use the liquidity bands applied in these third countries.
The impact of the tick size regime is likely to differ between markets and effects should therefore be analysed both at a European and local level. Except where otherwise stated, the final versions of the Delegated Regulations were published in the Official Journal of the European Union on 31 March Responsibilities of economic operators[ edit ] This EU regulation distinguishes two moments during the distribution of construction products: The same treaty specifies that the European Union shall not interfere with the competences of its members states, which are sovereign in defining all means to assure that constructions satisfy their set objectives for health, security and protection.
These texts are referred to in our briefing notes on this microsite. Mechanical resistance and stability Safety in case of fire Hygiene, health and the environment Safety and accessibility in use Protection against noise Energy economy and heat retention Sustainable use of natural resources Further the CPR states that Construction works as a whole and in their separate parts must be fit for their intended use On 20 SeptemberESMA issued a discussion paper on the trading obligation for derivatives see here.
The CE marking shall be applied to the product itself and where this should be not be possible to the packaging or accompanying documents. These topics were intended to be adopted in the form of delegated acts in secondary legislation.
The Discussion Paper contained the more innovative and technically complex issues in MiFID II, such as transparency, data reporting and market structure, as well as a limited number of investor protection provisions.Council, the Delegated Regulation (EU//) was published in the Official Journal on 15 December and entered into force on 4 January 3, with its implementation being gradually phased in since.
2. In the Commission proposed two legislative packages to. Commission Delegated Regulation (EU) / details the characteristics of the safety features, how medicine authenticity should be verified and by whom.
The delegated Regulation, and the new medicine verification system it lays down, will apply as of 9th February Paul Tang, the politician leading the European Parliament’s response to the Commission’s draft regulation, has scrapped the insertion of delegated acts into IORP II from his version of the draft legislation, although it includes other proposals for directly amending IORP II.
EXPLANATORY MEMORANDUM 1. CONTEXT OF THE DELEGATED ACT Article 11(4) of Regulation (EU) No / (MAR) states that when a disclosing market.
Commission Delegated Regulation (EU) No / of 1 July on the classification of the reaction to fire performance of construction products Publication of titles and references of harmonised standards under Regulation (EU) No / - 9/3/ On 13 Julythe European Commission published a Delegated Regulation amending Delegated Regulation (EU) /61 supplementing the Capital Requirements Regulation with regard to the liquidity coverage requirement for credit institutions (the Delegated Regulation).Download