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Delay in submission of final MiFID II and MAR Regulatory Technical Standards

It has been agreed by the European Commission and ESMA that the final submission of the Regulatory Technical Standards (RTS) for MiFID II and the Market Abuse Regulation(MAR) be delayed by just under 3 months to 30th September 2015. The reason is that ESMA would like to conduct a legal review with the Commission to ensure that the RTS is within mandate.  It is not expected that the implementation date for MiFID II will move from 3rd January 2017. The delay was requested by ESMA in this letter, and agreement came from the Commission in this reply.

The delay is likely to cause more uncertainty for the market, especially as the final deadline has not moved. It means that those in commodities who find themselves under the “full regime” will have even less time to prepare.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.


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