Michael Heijmeijer, Chairman & CEO: Cfinancials SA, informed me that many of you had questions about the state of play.
Please allow me to give you a quick update of the ongoing scrutiny of delegated acts and regulatory technical standards under MiFID II by the European Parliament.
Until now, the European Commission has sent over all three delegated acts (two under MiFID II, one under MiFIR) as well as half of the regulatory technical standards. The Commission informed us that it aims to adopt all technical standards – with the exception of the one on the ancillary activity exemption – before the summer break, i.e. before mid-July. However, as always I would advise caution regarding Commission timetables as they have more than once proven to be unreliable.
The European Parliaments’s MiFID II negotiation team has been discussing the MiFID II implementing legislation extensively over the past weeks and last week we have invited ESMA and Commission once more before the ECON committee. The webstream of this discussion, which sheds some light on various areas that might be of interest to you, can be found following this link:
Furthermore, I attach some replies I have received from the Commission on requests for clarifications I have put forward to the Commission. I will of course keep you updated regarding further developments as now is decisive decision-making period concerning the implementing legislation.
I hope this is of any help to you and remain.
Markus Ferber, MEP
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