EC published the Commission Implementing Regulations, or CIRs, 2017/980 and 2017/981 laying down implementing technical standards in accordance with the second Markets in Financial Instruments Directive (MiFID II or Directive 2014/65/EU). These regulations have been published in the Official Journal of the European Union.
These regulations are based on the draft implementing technical standards submitted by ESMA to EC and lay down implementing technical standards with regard to standard forms, templates, and procedures for the following:
For cooperation in supervisory activities, for on-site verification, and investigations and exchange of information between competent authorities
For the consultation of other competent authorities prior to granting an authorization
The competent authorities shall designate contact points for communication under the respective regulations and publish the information on the contact points on their websites. The competent authorities shall send information on their contact points to ESMA, which shall keep up to date a list of the contact points for the use of the competent authorities and shall publish it on its website. The regulations shall enter into force on the twentieth day following that of their publication in the Official Journal of the European Union. These regulations shall apply from January 03, 2018.
Effective Date: June 30, 2017
Keywords: Europe, EC, CIR, MiFIID II, IMD, AIFMD, Securities