ESMA: Not Enough Review Time Before MiFID II - Response From Fidessa Regulatory Expert

ESMA have made a public statement that there is not enough time to review all the pre-trade transparency waivers and position limits before MiFID II comes into force on 3rd January.

Anne Plested, head of Fidessa's EU Regulation Change programme, has written a short blog arguing that although we should be thankful that ESMA have taken a pragmatic approach to moving things along, more bottlenecks could appear in the future.

Especially in the context of the recent Commission review of the operation of the ESAs (European Supervisory Authorities) and ESMA’s response that supports more centralised regulatory supervision.