Events listed in Markets in Financial Instruments Directive II (MiFID II)
[ESMA35-36-2819 ] Final Report on the Review of the ITS on cooperation in ...
ID 22520
The European Securities and Markets Authority (ESMA) has released a Final Report on a “Review of the ITS on cooperation in supervisory activities under MiFID II“. The report outlines the need for competent authorities to cooperate and exchange information in an efficient and timely manner for the purposes of Directive 2014/65/EU, which sets out obligations for such cooperation. The European Commission previously published implementing ...
Nałożenie kar na Prosper Capital Dom Maklerski SA
ID 22518
On March 28, 2023, the Polish Financial Supervision Authority (KNF) published a press release to inform that it has fined Prosper Capital Dom Maklerski SA, a brokerage house, for violating several articles under the MiFID II Delegated Regulation (Commission Delegated Regulation (EU) 2017/565) and the Act of July 25, 2005 on trading in financial instruments (or simply Act on Trading in Financial Instruments). Specifically, ...
L’AMF présente ses propositions pour améliorer la lisibilité des frais des ...
ID 22509
The AMF has published Proposals to improve the readability of financial product fees in European law on the fees for financial instruments, together with a Draft glossary on financial investments fees (in French only), in order to improve savers‘ understanding of these fees as part of the ongoing discussions on the European Commission’s Retail Investment Strategy. In compliance with MiFID II and, if applicable, ...
ESMA publishes guidance on fractional shares
ID 22502
The European Securities and Markets Authority (ESMA) has issued a public statement regarding the investor protection concerns raised by derivatives on fractions of shares. The statement discusses the rise of online investment firms known as „neo-brokers“ that operate exclusively through websites and apps, often offering fractional investing in multiple EU countries under the MiFID Directive. **Fractional investing allows investors to determine the amount they ...
ESMA updates its guidance on product governance
ID 22493
The European Securities and Markets Authority (ESMA) has released an updated Final Report on Guidelines on MiFID II product governance requirements. The report includes amendments to the guidelines on MiFID II product governance, such as + specifying sustainability-related objectives that a product is compatible with and + identifying a target market per cluster of products rather than per individual product, + the determination of ...
DECRETO LEGISLATIVO 10 marzo 2023, n. 31 : Attuazione della direttiva (UE) 2021/338 ...
ID 22458
The Legislative Decree No. 31 on 10 March 2023 implementing MiFID II Amending Directive – Directive (EU) 2021/338 regarding disclosure requirements, product governance and position limits, was published in the Official Journal, Gazzetta ufficiale. This Directive is part of the EU’s „Capital Markets Recovery Package“, which aims to support the recapitalisation of EU businesses on the financial markets** due to the crisis caused by ...
Ley 6/2023, de 17 de marzo, de los Mercados de Valores y de los Servicios de ...
ID 22347
The new Spanish law on Securities Markets and Investment Services (Ley 6/2023, de 17 de marzo, de los Mercados de Valores y de los Servicios de Inversión) was published, replacing the legislation in force since 2015. The law aims to create transparent and efficient financial markets to allocate financial resources, promote public savings and integrate the Spanish economy into international financial and trade flows. ...
New consolidated version: Directive 2014/65/EU of the European Parliament and of ...
ID 22184
A new consolidated version of Directive 2014/65/EU, the Markets in Financial Instruments Directive II (MiFID II), was published in the Official Journal (OJ) of the EU. The consolidated version includes the amendments made by Regulation (EU) 2022/858, the DLT Pilot Regulation, which basically sets out a necessary regulatory framework for market infrastructures to facilitate the issuance, transfer, and settlement of financial instruments that are ...
EMT V4.1 for consultation (deadline: 24 Mar 2023)
ID 22172
The Financial Data Exchange (FinDatEx) platform has launched a consultation on a revised version of the European MiFID Template (EMT). The proposed EMT Version V4.1 includes necessary changes in light of the upcoming entry into force of the „UK consumer duty regime“, that starts to apply from 31 July 2023 for financial products and services. The „UK consumer duty regime“ will introduce a higher ...
NSA oddalił skargę XTB SA na decyzję KNF
ID 22090
The Polish Financial Supervision Authority (KNF) published a press release to inform that the Supreme Administrative Court has dismissed the appeal of X-TRADE BROKERS Dom Maklerski SA (currently: XTB SA) concerning a fine of PLN 9,900,000 which was imposed on the company by the KNF for violating – among others – §83a of the Act on Trading in Financial Instruments in 2018. Specifically the ...