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MiFID II – week 3

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.

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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