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European Commission Pushes ESMA to Rethink on MiFID II Reforms

MiFID II was expected to get implemented in January 2017, however European Commission considered the request for a year delay to the introduction of new trading and transparency rules under MiFID II till 3rd January 2018. The reason behind this delay was cited as data complexity and other technical implementation challenges faces by European banks, capital market firms, and regulators. Now the European Commission has precisely asked the European Securities and Market Authorities (ESMA) to review critical aspects of MiFID II regime to avoid further delay in implementing the rule.

An objective of this push is to bring more transparency to the bond markets which is fearful of the potential impact on market quality and liquidity. It has also called for the imposition of tighter limits on market share in certain commodities in a bid to curb food speculation, and the exemption of some commodities trading activities from the more austere regime. Additionally, MEPs warned ESMA to draw up new proposals taking January 2018 into consideration.

News Characteristics

Date : Mar 24, 2016
Region : Europe
Industry : Capital Markets
Function : Regulation and Compliance
Sub-Function : MIFID