MIFID II & MIFIR—Transaction Reporting
MIFID II & MIFIR—Transaction Reporting

The following Financial Services practice note provides comprehensive and up to date legal information covering:

  • MIFID II & MIFIR—Transaction Reporting
  • MiFIR transaction reporting obligation—Level 1
  • MiFIR—transaction reporting RTS
  • Content and format of transaction reports
  • Meaning of 'transaction' for the purposes of transaction reporting
  • Meaning of 'execution' of a transaction for the purposes of transaction reporting
  • Transmission of orders
  • Who transmits the transaction report and by what method?
  • Branch reporting
  • Methods and arrangements for reporting financial transactions
  • More...

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime.

The Markets in Financial Instruments Directive (Directive 2004/39/EC) (MiFID I) came into force in 2007 and introduced (alongside other reforms for the regulation of financial markets) a harmonised transaction reporting regime for the detection and investigation of potential market abuse across the EU. This Practice Note focuses on the changes to the MiFID I transaction reporting regime introduced by the recast Markets in Financial Instruments Directive (Directive 2014/65/EU) (MiFID II) and the Markets in Financial Instruments Regulation (Regulation (EU) 600/2014) (MiFIR), which were adopted in 2014 and took effect on 3 January 2018. MiFIR in particular has made a number of changes to the regulatory regime for transaction reporting. The Level 1 legislation provided a mandate for the European Securities and Markets Authority (ESMA) to develop regulatory technical standards (RTS) in relation to the transaction reporting provisions of MiFIR, and ESMA has published Level 3 guidance as well. This Practice Note also

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