On Dec. 6, EU ACER outlined ESMA cooperation against market abuse.
EU ACER discussed cooperation with ESMA to protect businesses and consumers from market abuse of the energy market, after discussions at 7th ETEF on Dec. 3, 2024.
The two organizations meet annually at the Energy trading enforcement forum (ETEF), where they share experiences on supervisory activities and enforcement actions.
Summary
Regulatory oversight of potential market abuse of trading in energy and financial products falls under 2 regulatory frameworks: EU regulation on wholesale energy market integrity and transparency (REMIT) and Market abuse regulation (MAR).
ETEF discussions included enhanced REMIT regulatory framework, which includes new measures to better protect the EU citizens and businesses from energy market abuse.
Aligns EU definitions/provisions for transparency and integrity with financial markets.
Grants EU ACER new investigatory/enforcement powers in certain cross-border cases and calls for a reinforced cooperation between energy and financial regulators.
ETEF also consolidated cooperation principles for market abuse cases falling under MAR & REMIT (i.e. involve wholesale energy products which are also financial instruments).
The growing role of AI in energy and financial markets’ trading was also a major topic.
Regulators
EU ACER; EU ESMA
Entity Types
B/D; CNSM; Corp; Exch
Reference
PR, 12/6/2024; REMIT Reg 1227/2011; Reg 2024/1106; MAR Reg 596/2014
