ECON has published its final reports on MiFID II, MAR and the Regulation on improving securities settlement and regulating central securities depositories (CSDR). In addition to delaying the transposition date of MiFID II by one year, the final report also amends  Article 2(1)(d)(ii) relating to the exemption for dealing on own account. The amendment clarifies that persons who are members or participants in a regulated market or MTF or people that have direct electronic access to a trading venue are only precluded from making use of the exemption if they engage in a high-frequency algorithmic trading strategy on that trading venue. Further amendments in the final report relate to: (i) specification of circumstances in which pre-trade transparency requirements do not apply to certain package transactions; and (ii) exclusion of SFTs from transparency requirements for trading venues, systematic internalisers and investment firms.