ESMA Updates MiFID II and MiFIR Transaction Reporting Guidelines
Friday, August 18, 2017

On August 8, European Securities and Markets Authority (ESMA) published an updated version of its guidelines (Guidelines) on transaction reporting, order recordkeeping and clock synchronisation under the revised Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR), which were originally published in October 2016 (for further information see the October 14, 2016 Corporate Financial Weekly Digest).

ESMA states that the changes made to the Guidelines correct some unintended factual mistakes, typos and inconsistencies. ESMA advises that none of the corrections aim to alter the substance or policy provisions of the Guidelines.

The Guidelines are being translated into the official EU languages. When this process is completed, national EU regulators will be required to notify ESMA whether they comply or intend to comply with the Guidelines (giving reasons for non-compliance, if relevant) within two months of publication of the official EU language versions of the Guidelines on ESMA’s website. ESMA states that the amendments to the Guidelines do not have an impact on the timeline for completion of the “comply and explain” procedure.

The Guidelines are available here.

 

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