On 27 January 2021, the European Securities and Markets Authority (ESMA) issued a decision from its board of supervisors concerning the delegation to the chair of non-controversial opinions on position limits. The board of supervisors has delegated to the chair of ESMA the task to:
- Assess the compatibility of position limits with the objectives of Article 57(1) of MiFID II and with the methodology for calculation established in Commission Delegated Regulation (EU) 2017/591.
- Issue on behalf of ESMA any non-controversial opinion regarding the intended position limits.
The delegation is to be exercised in accordance with the restrictions and conditions set out in the decision.
The board of supervisors retain the power to adopt controversial opinions for the purposes of Article 57(5) of MIFID II.