This category contains 295 posts

More FCA position limits

The FCA has added a few more MiFID II position limits to their list which can be found here. As before, readers who wish to more specifically identify the changes are welcome to contact us at The updated limits follows publication of limits by AFM and AMF (see here) and BaFin (see here).

MiFID II position limits set by AFM and AMF

Announcements of position limits by National Competent Authorities continues, following those over the past few weeks (see here). The AFM of The Netherlands has announced 4 limits, which can be found here.  In addition the AMF of France has announced several limits on Euronext and Powernext, in two documents which can be found here and … Continue reading

European Commission Adopts US Equivalence for MiFID II

The European Commission has adopted a decision that recognises certain US venues as “equivalent” in regulatory terms with EU law. The decision document can be found here. The decision recognises that SEFs (Swap Execution Facilities) and DCMs (Designated Contract Markets) fulfil the 4 conditions found in MiFIR Article 28(4) and are therefore recognised as equivalent  … Continue reading

European Commission proposes rules simplification

The past years have seen many regulatory initiatives being rolled out globally and in the EU. These include several financial regulatory regimes which have each been implemented within a relatively short space of time. Although each regime has different objectives, there are often overlaps and inconsistencies between them. This applies for example to the data … Continue reading

Less than a month until MiFID II

There is now less than a month to go until MiFID II starts, on 3rd January 2018. Investment Firms who will have to comply with many parts of the rules, such as the different data reporting strands, best execution, client protection, market structures and others, have a great deal of work to do in order … Continue reading

BaFin publishes indicative position limits

BaFin has published “indicative” position limits for certain contracts on EEX, which can be found both here on the BaFin web site and also here on the EEX web site. The announcement indicates that the positions announced are non binding, and that final limits will be published on 3rd January, when MiFID II starts to … Continue reading

FCA updates position limits list

The UK’s Financial Conduct Authority has updated the list of position limits under MiFID II which will apply to commodity derivatives contracts traded on venues under their jurisdiction. The list can be downloaded from here. The new version adds 12 more limits. Those interested in more specifically identifying the changes are welcome to contact us … Continue reading

FCA publishes MiFID II guide

The UK’s Financial Conduct Authority has published this guide to the implementation of MiFID II, and MiFIR, in the UK. It examines the various parts of the rules, the documents behind them, and the resulting changes to the FCA handbook. There are comments on the guide on this page of the Securities Lending Times.

FCA warns of increased MAR oversight

The start of MiFID II on 3rd January increases the scope of the Market Abuse Regulation, which itself started on 3rd July 2016 (see here). Financial instruments executed on Organised Trading Facilities (OTF) as well as emissions allowances will be in scope. As a result the requirements of an Emissions Allowance Market Participant (EAMP) increase … Continue reading

Regulation summaries – REMIT Quarterly and FCA Regulation Roundup

Both ACER and the UK’s FCA have recently issued newsletters: ACER has issued the latest  REMIT “quarterly” document, which can be found here. It summarises the various announcements relating to REMIT over the past few months, as well as the contents of the recent public forum held in Ljubljana. It also shows the rate of … Continue reading