Esma seeks helping hand on Mifid II rules
Esma has asked for the industry’s help in providing technical advice to the European Commission on issues important to structured products. What are the likely sticking points? Yakob Peterseil reports
On May 22, the European Securities and Markets Authority (Esma) outlined its gargantuan task: translating into rules and regulations the greatest overhaul in European securities law since the financial crisis. Europe's chief securities regulator launched simultaneous consultations that day on both the Markets in Financial Instruments Directive (Mifid II) and Regulation (Mifir). To answer all 860 questions in the consultation by the August 1 deadline, banks and their lawyers would have to plough
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