The European Securities and Markets Authority (ESMA) has published a follow-up report on the actions undertaken by ten Member State national competent authorities (NCAs) in addressing deficiencies identified in the 2014 peer review on MiFID conduct of business rules relating to fair, clear and not misleading information.
The follow up report concludes that the NCAs from Lithuania, Latvia, Malta, Poland, Portugal and Romania have addressed all of the deficiencies previously identified. The remaining four NCAs, one (Denmark, Estonia and Greece) or more (Cyprus) deficiencies remain, although significant efforts have been made by Cyprus and Greece. ESMA states that it is confident that these NCAs will address the remaining deficiencies as soon as possible and at the very latest by 3 January 2018.
View ESMA finds improvements in regulators’ supervisory practices concerning MiFID rules on fair, clear and not misleading information, 18 May 2017