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ESMA updates statements on the impact of Brexit on MIFID II/MIFIR and the benchmarks regulation

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has updated two statements on its approach to the application of key provisions of MiFID II/MiFIR and the Benchmark Regulation (BMR).

Today’s statements update previous ones issued in March 2019 and October 2019 reflecting ESMA’s approach, should the UK have left the EU under a no-deal Brexit. However, as the Withdrawal Agreement entered into force on 1 February 2020, and the UK entered a transition period that will end on 31 December 2020, these statements needed to be revised.

Compliments of the European Securities and Markets Authority.