BULGARIA: FSC Outlines Reporting Arrangements in Relation to MIFID II

Tuesday January 9 2018

On 9^th January 2017, the Financial Services Commission outlined the New Reporting arrangements which are in force due to the implementation of MIFID II which came into force on the 3^rd January.

In its guidance the FSC makes reference to Art. 26 MiFIR which imposes an obligation on entities  to present complete and accurate reports to the competent authority for the transactions concluded with financial instruments.

The FSC notes that management companies are not obliged to report under Art. 26 MiFIR on transactions concluded under Art. 86 which concerns transactions made in collective investment schemes and other undertakings for collective investment. In contrast the FSC outlines that investment intermediaries are required to report under Art.26 when completing Art. 86 transactions.

For additional information please click the link above.