In accordance with Article 43 of Regulation (EU) No 600/2014, ESMA performs a facilitation and coordination role in relation to such product intervention measures taken by NCAs. After receiving notification from an NCA of its proposed measure, ESMA must adopt an opinion on whether the proposed measure is justified and proportionate.
Release date- 27082019 - The European Securities and Markets Authority (ESMA) has today issued two positive opinions on product intervention measures taken by the National Competent Authority (NCA) of Slovenia.
PARTLY because of the government operating under the reenacted budget, the releases of Notice of Cash Allocation (NCA) in the first month of the year slid by almost half compared to the same period last year.
From P405.4 billion in January 2018, the NCA releases were significantly down to P211.9 billion in January this year.
For the second quarter alone, the government utilized P739.54 billion or 96.3 percent of the P768.19 billion NCAs released during the three-month period.
Agencies need NCAs to claim their checks from the Bureau of the Treasury, which are then used to pay for public projects and services.
The NCAs will decide case by case whether targeted cooperation is likely to improve the review process.
The Commission notes that successful cooperation will depend to a great extent on the goodwill and cooperation of the merging parties, because NCAs will in most cases depend on them for permission to exchange confidential information.