The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, issued a Public Statement providing market participants with clarity concerning their reporting requirements under RTS28, pending full application of the new rules under MiFID II.
ESMA expects NCAs not to prioritise supervisory actions towards investment firms relating to the periodic RTS 28 reporting obligation, from 13 February 2024 until the forthcoming transposition into national legislation in all Member States of the MiFID II review.
Under the reviewed MiFID II/MiFIR framework, investment firms are no longer required to annually report detailed information on trading venues and execution quality through RTS 28 reports, and the statement published today will promote coordinated action by National Competent Authorities (NCAs) under MiFID II.
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