The European Securities and Markets Authority (ESMA), the EU regulator and supervisor, has updated its Questions and Answers (Q&As) on market structure under MiFID II, the Market Abuse Regulation (MAR) and the Short Selling Regulation (SSR), removing outdated, duplicative and no longer relevant guidance as part of its Simplification and Burden Reduction (SBR) initiative.
The exercise focused on identifying Q&As that are no longer relevant due to legislative amendments that are reflected in established market practices, or that are covered by other ESMA guidance. As a result, several Q&As have been withdrawn or amended, including instances where the same issues are addressed in other ESMA publications such as supervisory briefings and opinions.
The goal of the initiative is to reduce unnecessary complexity, remove obsolete guidance and ensure that ESMA's Q&As remain relevant, proportionate and consistent with the current legislative framework.
Stakeholders are encouraged to refer to the updated set of Q&As together with any other ESMA guidance for the most comprehensive interpretation of the applicable rules.
