ESMA on track with MiFID and MiFIR standards
02 July 2015 Brussels
Image: Shutterstock
The European Securities and Markets Authority (ESMA) has issued its final report the majority of the draft technical standards required for the Markets in Financial Instruments Directive (MiFID) II and Markets in Financial Instruments Regulation (MiFIR).
The final report covers authorisation, passporting and registration of third-country firms, and cooperation between competent authorities.
This means that most of the draft regulatory technical standards (RTS) and implementing technical standards (ITS) on investor protection that ESMA was expected to develop are now complete.
Any remaining standards are expected to be issued by the end of 2015. A second set of RTS on secondary market issues is planned for September, and a similar second ITS should be published in December.
The reports have been submitted to the European Commission, which now has three months to endorse them.
The final report covers authorisation, passporting and registration of third-country firms, and cooperation between competent authorities.
This means that most of the draft regulatory technical standards (RTS) and implementing technical standards (ITS) on investor protection that ESMA was expected to develop are now complete.
Any remaining standards are expected to be issued by the end of 2015. A second set of RTS on secondary market issues is planned for September, and a similar second ITS should be published in December.
The reports have been submitted to the European Commission, which now has three months to endorse them.
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