ESMA published updated guidelines on transaction reporting, order recordkeeping, and clock synchronization under the second Markets in Financial Instruments Directive (MiFID II). The update corrects certain unintended factual mistakes, typos, and inconsistencies in the technical part of the guidelines.
This revision exercise will not have an impact on the timeline for completion of the comply and explain procedure with the guidelines. ESMA emphasizes that none of the corrections aim to alter the substance or policy provisions of the guidelines originally published on October 10, 2016. ESMA also released the compared track changes version to ensure full transparency on the changes made.
Keywords: Europe, Securities, MiFID II, Transaction Reporting, Record Keeping, Guidelines, ESMA