16 December 2017
visit http://response.ncr.com

Esma raises red flag over investment firms circumventing MiFID II rulebook

14 February 2017  |  3522 views  |  0 Source: Esma

The European Securities and Markets Authority (ESMA) has written to the European Commission to raise its concern over the potential establishment of networks of systematic internalisers (SIs) by investment firms to circumvent certain MIFID II obligations; in particular, the requirements for investment firms operating internal matching systems and executing client orders on a multilateral basis to be authorised as trading venues, and the trading obligation for shares.

In the letter, ESMA asks the European Commission to consider whether there is a need for the Commission to take action to address this issue, such as clarifying certain MiFID II definitions. ESMA also states that it will closely monitor developments in this area and may, in the future, clarify the scope of SIs’ permitted activities and the characteristics of multilateral systems via its Questions and Answers documents.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comvisit www.niceactimize.comvisit www.response.ncr.com

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
10413 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
9870 views comments | 18 tweets | 36 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7103 views comments | 19 tweets | 21 linkedin
hands typing furiouslyReshaping Customer Engagement & Da...
6491 views 0 | 4 tweets | 2 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
6355 views comments | 9 tweets | 9 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job