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FCA MiFID II consultation – second paper issued

The FCA (Financial Conduct Authority, the UK’s National Competent Authority)  have issued a second consultation paper on MiFID II, which can be found here. This section is based on the final version of RTS 21 on position limits and several other documents.

The paper includes sections on the application of the rules around commodity derivatives: Section 2 on page 13 discusses position limits and reporting. The draft handbook updates section  incorporates changes to the definition of a financial instrument and venues (starting on page 5 of the handbook section), and a new section on position limits, management and reporting (page 176).

A new draft of RTS 20, the Regulatory Technical Standard on the ancillary activity test, is still awaited from the European Commission.

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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