Financial Service Regulation and Compliance - Investment Firms March 2019

DOMESTIC

CBI publishes updated Investment Firms – Questions and Answers

On 4 March, the CBI published the 7th Edition of its Q&A document. The latest version of this publication adds two new questions relating to the appointment of tied agents by firms established outside of the EEA, and the appointment of non-EEA tied agents to investment firms established in the EEA.

EUROPEAN

ESMA writes to EU Commission on MiFIDII / MiFIR Review reports

The European Securities and Markets Authority (ESMA) has written to the European Commission regarding the timing of ESMA's reports relating to MiFID II and MiFIR. The letter proposes a timetable during which reports will be delivered to the Commission. The letter cites Brexit-related uncertainty as a contributing factor to the preparation of the timetable.

ESMA updates its Q&As on MiFID II and MiFIR commodity derivatives topics

ESMA has updated its MiFID II and MiFIR Questions and Answers document for investment firms. The Q&As clarify a number of commodity derivative issues, including positon limits, position reporting and ancillary activity. The update document includes a new question on the topic of the ancillary activity test and the use of the ancillary activity exemption.

For more information on this topic please contact any member of A&L Goodbody's Financial Regulation team.

Date published: 16 April 2019