On 8th November, the next set of obligations that are found in REMIT II(see here) will take effect. These include requirements:

• For many “PPET”s (Professional Persons Executing Transactions) to submit Suspicious Transaction or Order Reports to regulators when appropriate.
• For Market Participants based outside of the EU to have a representative in the EU.

These issues were recently addressed in an open letter issued by ACER (see here).

The REMITREP service, founded by ETR Advisory and Correggio Consulting, is one of the services that offers representation in eight countries to fulfil the second requirement (see here).