ESMA updated question and answer (Q&A) document on data reporting under the Markets in Financial Instruments Regulation (MiFIR). Additional Q&A updates involve investor protection topics, in addition to the transparency and market structures issues under Market in Financial Instruments Directive (MiFID II) and MiFIR.
The updated Q&A include the following:
- Q&A on data reporting under MiFIR—The Q&As provide clarifications in relation to the requirements for submission of transaction reports and reference data under MiFIR. In particular, the Q&As relate to Complex Trades and National client identifiers for natural persons. The Q&As on complex trades provide new answers on reporting transactions and reference data for instruments where the execution results in a complex trade. The Q&A on national client identifiers for natural persons further clarifies how the three national identifiers—the Czech ID, the Liechtensteinian ID, and the Romanian ID—should be represented.
- Q&A on investor protection topics under MiFID/MiFIR—The updated Q&A document covers the topics of best execution, client categorization, provision of investment services and activities by third country firms, suitability and appropriateness, post-sale reporting, and underwriting and placement of a financial instrument.
- Q&A on transparency and market structures issues under MiFID/MiFIR—The updated Q&As provide clarification on the requirements to publish information on post-trade data 15 minutes after publication free of charge; the publication of transactions and how to populate the field publication date and time; pre-trade transparency requirements for voice trading systems and for request for quote systems; and Organized Trading Facilities (OTFs) arranging trading in strategies that include an equity leg.
The Q&A mechanism is a practical convergence tool used to promote common supervisory approaches and practices. It is intended to help investors and other market participants by providing clarity on the requirements.
- Q&A Update on Data Reporting
- Q&A Update on Investor Protection Topics
- Q&A Update on Transparency and Market Structures Issues
Keywords: Europe, EU, Securities, MiFID/MiFIR, Q&A, Data Reporting, Investor Protection, Market Structure Issues, ESMA
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EIOPA submitted—to the European Parliament, the Council of the European Union, and EC—its 2020, fifth, and last annual report on long-term guarantee measures and measures on equity risk.
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EU published, in the Official Journal of the European Union, corrigenda to the Directive and the Regulation on the prudential requirements and supervision of investment firms.
MAS proposed amendments to certain regulations, notices, and guidelines arising from the Banking (Amendment) Act 2020.
PRA published a statement that explains when to expect further information on the PRA approach to transposing the Capital Requirements Directive (CRD5), including its approach to revisions to the definition of capital for Pillar 2A.
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