Events listed in Markets in Financial Instruments Directive II (MiFID II)
ESMA publishes Final Report on revised technical standards for passporting
ID 24130
ESMA released its Final Report on the revised draft technical standards for passporting under Article 34 of MiFID II. The report focuses on enhancing investor protection and ensuring the uniform application of regulations within the EU’s financial markets. The proposed amendments include targeted changes to the existing RTS and ITS, with the main objective of providing NCAs with more detailed information from **investment firms ...
[ESMA35-335435667-4321 ] 2022 Report on MiFID II sanctions
ID 24093
ESMA published a report with an overview of the sanctions and measures imposed by NCAs under the MiFID II framework in 2022. It aims to analyze the trends and developments in the enforcement of MiFID II regulations across EU/EEA Member States. The data reported for 2022 a decrease in the overall activity of NCAs in imposing sanctions and measures compared to the previous year. ...
ESMA highlights areas for improvement in firms’ disclosure of cost and charges ...
ID 24069
ESMA has released a statement on its 2022 CSA and mystery shopping exercise related to the disclosure of costs and charges under MiFID II (eventid=14244). The CSA revealed that most firms comply with the ex-post cost and charges requirements, although compliance levels vary across Member States. However, there are several areas for improvement identified, including significant differences in disclosure format and content across firms ...
ESMA finds adequate setup of measures to reduce volatility in trading of energy ...
ID 23968
ESMA has conducted an assessment of the IVM implemented by trading venues for energy derivatives trading. The IVMs are designed to reduce extreme price volatility within a single trading day. ESMA’s assessment includes an evaluation of the calibration of the IVMs and their effectiveness in managing volatility. The report acknowledges that the assessment was conducted during a period without evidence of prolonged volatility episodes ...
Kapitalmarkt-Compliance: BaFin aktualisiert Rundschreiben zu MaComp
ID 23963
Kapitalmarkt-Compliance Die BaFin hat eine überarbeitete Version des Rundschreibens zu den Mindestanforderungen an die Compliance-Funktion und die weiteren Verhaltens-, Organisations- und Transparenzpflichten für Wertpapierdienstleistungsunternehmen (MaComp) veröffentlicht. Die aktualisierte Fassung wurde am 30. Juni 2023 auf der BaFin-Website zugänglich gemacht. Die Überarbeitung des Rundschreibens erfolgt vor dem Hintergrund der kürzlich von der ESMA veröffentlichten „ ...
Guida Operativa CONSOB in materia di Algo trading e HFT: Definizione e Obblighi ...
ID 23846
Consob has published new guidance on „Algo-trading and HFT“ addressed to „investment firms and banks engaged in algorithmic trading or high-frequency trading (HFT) activities as well as entities referred to in Article 67-ter (8) of the TUF. Algorithmic trading, as defined by the TUF, refers to the trading of financial instruments where a computer algorithm automatically determines the individual parameters of orders (such as ...
Joint trade associations urge policy makers not to concede to suboptimal outcomes ...
ID 23837
In a joint press release, AFME, EFAMA and BVI are urging policy makers not to compromise on the MiFID/R, as it may result in suboptimal outcomes. They are emphasizing the need for an evidence-based and ambitious approach, even if it means more time is required for negotiations. MiFID/R is crucial for the development of a CMU that benefits investors and issuers, as well as ...
Regolamento Mercati, Consob apre una consultazione pubblica sull’adeguamento ...
ID 23772
Consob has launched a public consultation on amendments to the Consob Resolution No. 20249 of 28 December 2017 („Markets Regulation“) aimed at aligning the secondary legislation with recent European reforms related to: – Regulation (EU) 2019/2175, which amends Regulation (EU) No. 600/2014 (MiFIR) and transfers the authorization and supervision of data reporting services related to financial market transactions to ESMA. – Directive (EU) 2021/338, ...
ESMA launches Call for Evidence on sustainability in suitability and product ...
ID 23748
ESMA has launched a CfE to gather industry feedback on integrating sustainability preferences into suitability assessment and product governance arrangements under MiFID II. The objective of the CfE is to better understand how MiFID II requirements on sustainability are being implemented by firms and to gain insight into **investor experiences and reactions to the inclusion of sustainability factors in investment advice and portfolio management ...
New consolidated version: Commission Delegated Regulation (EU) 2017/588 of 14 July ...
ID 23727
A new consolidated version of Commission Delegated Regulation (EU) 2017/588 describing the standards to be applied by trading venues as regards the tick sizes for shares, depositary receipts, and exchange-traded funds was published in the Official Journal (OJ) of the EU. The consolidated version includes the amendments made by Commission Delegated Regulation (EU) 2023/960 which modified the application date of the latest annual figures ...