The European Securities and Markets Authority (ESMA) has updated its Questions and Answers document (Q&A) on transparency topics under MiFID II and MiFIR. The updated Q&A contains two new questions and answers that provide details regarding:

• equity transparency: the review of waivers granted in accordance with MiFID II under Article 4(7) of MiFIR; and
• non-equity transparency: the procedure for granting a waiver from pre-trade transparency obligations for illiquid non-equity financial instruments under Article 9(1) (c) of MiFIR.

View ESMA updates MiFID II transparency Q&As relating to waivers, 18 November 2016