As the third week of MiFID II begins, developments continue following last week’s news:
BaFin has updated their position limits page, which can be found here. This article on the ICIS web site reports of remaining confusion for those in commodity derivatives, both in terms of position limits, and also in terms of the calculation of the Ancillary Activity test.
This article on the Financial News web site by Tabby Kinder reports that Gina Miller, co founder of SCM Private is considering bringing legal action against regulators for uneven enforcement of MiFID II. The claim is that since some firms are using the indications given by regulators of an initially measured approach to MiFID II enforcement to distort fees and therefore the market (see here)
News will likely continue over the coming weeks.