ESMA wants to amend transaction reporting under MiFIR

The European Securities and Markets Authority (ESMA) has published today a request for amending its draft Regulatory Technical Standards (RTS) on transaction reporting (RTS 22) under the Markets in Financial Instruments Regulation (MiFIR).

The RTS 22 were submitted to the Commission on 28 September 2015. ESMA acknowledges the need to amend RTS 22 due to an unintended omission in the final stage of drafting the RTS.

The amendment introduced by ESMA relates to the list of instances that are not considered to be reportable transactions for the purpose of Article 26 of MiFIR. In particular, the amendment ensures that investment firms do not submit transaction reports for transfers of collateral, which would be costly and bring no supervisory benefit.

The necessary amendment has been submitted to the European Commission (EC). ESMA anticipates that the amendment will be taken into account in the context of the EC’s endorsement of the draft RTS 22.

The ESMA statement and the full report are available here.

Lavanya Rathnam

Lavanya Rathnam is an experienced technology, finance, and compliance writer. She combines her keen understanding of regulatory frameworks and industry best practices with exemplary writing skills to communicate complex concepts of Governance, Risk, and Compliance (GRC) in clear and accessible language. Lavanya specializes in creating informative and engaging content that educates and empowers readers to make informed decisions. She also works with different companies in the Web 3.0, blockchain, fintech, and EV industries to assess their products’ compliance with evolving regulations and standards.

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