EUROPEAN UNION: ESMA Publishes Final Report on Draft Technical Standards on MiFID II and MiFIR

Friday July 3 2015

The European Securities and Markets Authority (ESMA) has issued its Final Report on MiFID II-MiFIR draft technical standards (RTSs) on authorisation, passporting, registration of third country firms and cooperation between competent authorities. This Final Report covers the majority of the draft RTS and ITS on investor protection topics which ESMA is expected to develop.

The final report on authorisation, passporting and registration are submitted to the Commission for endorsement of the draft RTS and ITS. The European Commission has three months to endorse these standards.

Section II contains the analysis of technical standards following the responses to the consultation. Section III contains the draft technical standards. Section IV contains the cost-benefit analysis.

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