ESMA has issued its final set of technical standards under the revised Markets in Financial Instruments Directive (MiFID 2). It has also published its final report, setting out the scope of its mandate and the reasons behind its recommendations. This set of ITS cover standard forms, templates and procedures which are to be used in the future in the following areas:

  • standard forms, templates and procedures for cooperation arrangements in respect of a trading venue whose operations are of substantial importance in a host Member State (ITS 1);
  • format and timing of the communications and the publication regarding the suspension and removal of financial instruments from trading on a Regulated Market (RM), a Multilateral Trading Facility (MTF) or an Organised Trading Facility (OTF) (ITS 2);
  • standard forms, templates and procedures for the authorisation of data reporting services providers (ITS 3);
  • position reporting (Article 58(5)) (ITS 4);
  • format and timing of weekly position reports (Article 58(7)) (ITS 5);
  • standard forms, templates and procedures for competent authorities to cooperate in supervisory activities, on-site verifications, and investigations and for the exchange of information (ITS 6);
  • standard forms, templates and procedures for the consultation of other competent authorities prior to granting an authorisation (ITS 7); and
  • procedures and forms for submitting information on sanctions and measures (ITS 8).

The Commission now needs to endorse the ITS within three months from 11 December (with the possibility of a one-month extension). However, the Commission has not yet endorsed RTS and ITS ESMA submitted earlier this year. (Source: ESMA Issues MiFID 2 Reporting ITS)