The European Securities and Markets Authority (ESMA) has agreed a range of product intervention measures to prohibit the provision of binary options and to restrict the provision of Contracts for Difference (CFDs) in order to protect retail investors.
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On 20 December, ESMA issued a public statement to support the smooth introduction of the Legal Entity Identifier (LEI) requirements for MiFID II implementation.
FCA response to ESMA’s public statement on LEIs
FCA statement on the Work Plan for ESMA opinions on pre-trade transparency waivers and commodity position limits
Pre-trade transparency waivers On 28 September 2017, ESMA issued a public statement regarding the joint work plan of ESMA and NCAs for opinions on MiFID II pre-trade transparency waivers. The statement explains that, while ESMA intends to finalise the opinions on equity waivers by the end of 2017, due to the high number and complexity of applications that need to be assessed, it is unlikely to be in a position to issue opinions on a majority of non-equity waiver notifications before 3 January 2018. In light of ESMA’s clarification of its process, we will now communicate responses on complete non-equity waiver applications before the finalisation of ESMA opinions.