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FCA Updates Commodity Derivatives Website With Q&A

On August 8, the UK Financial Conduct Authority (FCA) updated a section of its website relating to the treatment of commodity derivatives under the revised Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR) by adding a question and answer document (Q&A).

The Q&A contains 34 questions and answers relating to the following topics:

• ancillary activities notification;
• position limits;
• position limit exemption applications; and
• reporting.

The FCA’s disclaimer to the Q&A states that while it is published as a working draft, and may be subject to further amendment going forward, it reflects the content of the FCA’s recently published Policy Statement 17/14 on the implementation of MiFID II (for further information see the July 7 Corporate Financial Weekly Digest).

The website and Q&A are available here and here, respectively.

©2017 Katten Muchin Rosenman LLP

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About this Author

Carolyn H. Jackson, International Attorney, Katten Muchin law firm
Partner

Carolyn Jackson is a partner in Katten Muchin Rosenman UK LLP and is a Registered Foreign Lawyer. She provides US financial regulatory legal advice to a broad range of market participants, including commercial banks, investment banks, investment managers, broker-dealers, electronic trading platforms, clearinghouses, trade associations and over-the-counter derivatives service providers.

Carolyn guides clients in the structuring and offering of complex securities, commodities and derivatives transactions and in complying with US securities and commodities laws...

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