Domestic

MiFID II: CBI thematic assessment of compliance functions within the MiFID investment firm sector

On 18 May 2026, the Central Bank of Ireland (CBI) published a report on the outcome of its thematic assessment of compliance functions within a sample of MiFID investment firms. The report sets out key findings, good practices identified and areas for enhancement which included succession planning, compliance training, monitoring programmes and the quality of board and committee reporting. The CBI expects all firms to consider the findings, carry out a self-assessment of their compliance function, address any gaps identified and ensure that the report is considered at board level.

European

ESMA issues statement on supervision of MiFID II sustainability requirements

On 6 May 2026, the European Securities and Markets Authority (ESMA) published a statement setting out the results of its common supervisory action on the integration of sustainability into investment firms’ suitability assessments and product governance processes. The statement highlights key themes, including the collection and use of clients’ sustainability preferences, product categorisation and matching, the application of the portfolio approach, and target market assessments.

ESMA publishes updated manual on pre-trade and post-trade transparency

On 12 May 2026, ESMA published its updated manual on pre-trade and post-trade transparency under MiFID II and MiFIR. The manual replaces ESMA’s manual on post-trade transparency under MiFID II and MiFIR.

Date published: 31 May 2026

This publication provides an overview of certain legal and regulatory developments that may be of interest to certain entities. It does not purport to provide analysis of law or legal advice and is strictly for information purposes only.