Community
ESMA issued a public statement yesterday recognising that there is just not enough time to review all the pre-trade transparency waivers and position limits before MiFID II comes into force on 3rd January.
Rather than create an impasse they have, thankfully, opted for a pragmatic approach to get things moving along. To smooth the path, in the absence of an ESMA opinion, the national competent authorities (NCAs) can proceed for now based on their own assessment. Interesting, I think, in the context of the recent Commission review of the operation of the ESAs (European Supervisory Authorities) and ESMA's response in support of more centralised regulatory supervision. Could this mean potential for more bottlenecks ahead?
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Ravi Satyanarayana Partner - Payments & Fintech Innovation at TCS
12 November
John Bertrand MD at Tec 8 Limited
11 November
Stanley Epstein Associate at Citadel Advantage Group
Priyanka Naik Fintech Professional
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.