ESMA renews binary options prohibition for a further three months from 2 January 2019

The European Securities and Markets Authority (ESMA) has agreed to renew the prohibition of the marketing, distribution or sale of binary options to retail clients, in effect since 2 July, for a further three-month period.

ESMA has carefully considered the need to extend the intervention measure currently in effect. It considers that a significant investor protection concern related to the offer of binary options to retail clients continues to exist. ESMA has therefore agreed to renew the measure from 2 January 2019 on the same terms as the previous renewal decision that started to apply on 2 October 2018.

The renewal was agreed by ESMA’s Board of Supervisors on 7 November 2018.

Next steps

ESMA intends to adopt the renewal measure in the official languages of the EU in the coming weeks, following which ESMA will publish an official notice on its website. The measure will then be published in the Official Journal of the EU and will start to apply from 2 January 2019 for a period of three months.

Large heroin seizure in Italy supported by Eurojust

8 November 2018

Last weekend, 270 kg of heroin was seized by Italian Customs agents in the Port of Genoa, Italy, hidden in a container that arrived from Iran, the largest seizure of drugs in Genoa in 20 years. The Italian Police arranged for a portion of the seized drugs to be sent further on its planned route, the first controlled delivery of heroin outside Italy. The drugs travelled by truck through three States, with the Netherlands as the final destination. Two suspects were arrested in the Netherlands.

The long investigation was coordinated between the judicial and law enforcement authorities of five States, with the support of Eurojust, and was organised by the Italian Antimafia District Directorate (Direzione Distrettuale Antimafia (Dda)). Information was exchanged with the Central Drug Trafficking Directorate (Direzione Centrale per I Servizi Antidroga) and the Italian Police Central Operations Service (Servizio Centrale Operativo della Polizia di Stato).

Photo © Shutterstock

Large heroin seizure in Italy supported by Eurojust

8 November 2018

Last weekend, 270 kg of heroin was seized by Italian Customs agents in the Port of Genoa, Italy, hidden in a container that arrived from Iran, the largest seizure of drugs in Genoa in 20 years. The Italian Police arranged for a portion of the seized drugs to be sent further on its planned route, the first controlled delivery of heroin outside Italy. The drugs travelled by truck through three States, with the Netherlands as the final destination. Two suspects were arrested in the Netherlands.

The long investigation was coordinated between the judicial and law enforcement authorities of five States, with the support of Eurojust, and was organised by the Italian Antimafia District Directorate (Direzione Distrettuale Antimafia (Dda)). Information was exchanged with the Central Drug Trafficking Directorate (Direzione Centrale per I Servizi Antidroga) and the Italian Police Central Operations Service (Servizio Centrale Operativo della Polizia di Stato).

Photo © Shutterstock

Large heroin seizure in Italy supported by Eurojust

8 November 2018

Last weekend, 270 kg of heroin was seized by Italian Customs agents in the Port of Genoa, Italy, hidden in a container that arrived from Iran, the largest seizure of drugs in Genoa in 20 years. The Italian Police arranged for a portion of the seized drugs to be sent further on its planned route, the first controlled delivery of heroin outside Italy. The drugs travelled by truck through three States, with the Netherlands as the final destination. Two suspects were arrested in the Netherlands.

The long investigation was coordinated between the judicial and law enforcement authorities of five States, with the support of Eurojust, and was organised by the Italian Antimafia District Directorate (Direzione Distrettuale Antimafia (Dda)). Information was exchanged with the Central Drug Trafficking Directorate (Direzione Centrale per I Servizi Antidroga) and the Italian Police Central Operations Service (Servizio Centrale Operativo della Polizia di Stato).

EIOPA publishes monthly technical information for Solvency II Relevant Risk Free Interest Rate Term Structures – end-October 2018 and updates the source code for the monthly risk-free interest rate term structures calculation

Today, the European Insurance and Occupational Pensions Authority (EIOPA) published technical information on the relevant risk free interest rate term structures (RFR) with reference to the end of October 2018 and an updated version of the source code used for the monthly risk-free interest rate term structures (RFR) calculation.

Both the RFR information with reference to end of October 2018 and the RFR coding released today reflect the content of the Technical Documentation published on 1 February 2018.

All the documents are available on EIOPA’s website. The updated version of the source code can be accessed under “Background Material.”

Background

Technical information relating to risk-free interest rate (RFR) term structures is used for the calculation of the technical provisions for (re)insurance obligations.

In line with the Solvency II Directive, EIOPA publishes technical information relating to RFR term structures on a monthly basis via a dedicated section on EIOPA’s Website also containing the provisional release calendar for 2018, the RFR Technical Documentation, the RFR coding and Frequently Asked Questions.