Commission asks EBA for MiFID 2 advice: In addition to its request to ESMA (see FReD 30 May) for advice on implementation of the revised Markets in Financial Instruments and Regulation package (MiFID 2), the Commission has asked EBA to consider its new intervention powers in respect of structured deposits. It asks EBA to work with ESMA as ESMA will be producing similar advice in relation to investment products. The Commission asks for ESMA's advice six months after MiFID 2 enters into force, which is likely to be during June, so the advice would be due by the end of 2014. (Source:Commission Asks EBA for MiFID 2 Advice)

EBA updates FAQs: EBA has updated its FAQs on the Single Rulebook. There are three new questions, two of which relate to own funds. (Source: EBA Updates FAQs)