The FCA has published the minutes of its MiFID II implementation roundtable held on 3 August 2016. Points of interest in the minutes include: (i) ESMA is working on interpretative level 3 material across investor protection, secondary markets, commodity derivatives and market data; (ii) on investor protection, ESMA had made progress on draft guidelines on product governance and had produced an initial 26 Q&As on best execution, suitability and appropriateness, taping and independent investment advice; and (iii) on secondary markets, progress has been made on a discussion paper on the derivatives trading obligation and guidelines on trading halts and management bodies of regulated markets. It was also noted that ESMA is also working on Q&A on a wide range of other secondary market topics.