ESMA consultation on RTS 1 & 2 under MiFIR: EBF High level comments
BRUSSELS, 30 September 2021 – The EBF would like to thank ESMA for the opportunity to comment on the proposed changes on RTS 1 & 2 under MIFIR.
The EBF would like to share some concerns regarding this consultation on the following:
- Timing: it is highly important to ensure that all amendments are made subject to a thorough cost/benefit analysis and to avoid temporary solutions that may be overhauled by a forthcoming MiFID Review
- Mandate: EBF has some concerns regarding ESMA’s mandate to propose certain changes
- Alignment between MAR and transparency requirements under MIFIR : it is key to clarify that it would be allowed for an investment firm not to publish a transaction under the transparency rules if such publication would be in contravention with MAR
- Streamlining: While we generally support the intention to reduce overlaps and to streamline above mentioned articles, we are not entirely convinced that the some reference are sufficiently unambiguous.
Pauline Guérin, Senior Policy Adviser, Financing Growth email@example.com