The European Commission has responded to a request from the European Securities and Markets Authority (“ESMA”) to clarify the definition of “financial instruments” under Directive 2004/39/EC on markets in financial instruments (“MiFID”) which is used in defining  under Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories (“EMIR”). The lack of clarity […]

For the purpose of this guidance paper, the definitions set out in the Glossary to the FATF Recommendations apply.5 The FATF Glossary definition of politically exposed person is meant to have the same meaning as the term persons with prominent public functions (as used in UNCAC Article 52). In particular, the following definitions, which do […]