See here for a copy of the minutes from the FCA’s MiFID II Implementation Round Table.There are some interesting comments on the possible timing of changes to the Regulatory Technical Standards(RTS) around the Ancillary Activity test and Position Limits (20 and 21), which are important for the commodity and energy trading sector, as well as the Delegated Acts.

Paragraph 1.3 states that the Delegated Acts are likely to be seen in March, and also that the relevant RTSs are “likely to change”. Now that the overall delay to the deadline is all but confirmed, the industry eagerly awaits news on the content of any changes.