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ESMA Updates MiFID Guidance On Notifications, Transitions

Law360, London (September 13, 2017, 3:26 PM BST) -- The European Securities and Markets Authority issued fresh guidance Tuesday to supervisors and firms clarifying changes to central counterparty and trading venue access under major financial markets reforms due to come into force in 2018.

The updated guidance on the implementation of the Markets in Financial Instruments Directive and Regulation, known as MiFID II and MiFIR, takes the form of questions and answers and sets out ESMA’s expectations for firms’ policies on notifying their regulators of temporary opt-outs and transitional arrangements under the regime.

“The purpose...
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