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ESMA Q&A Update – Regarding Third Country Issues Under MiFID II and MiFIR Transparency Requirements

ESMA Q&A

Topic

MiFID II and MiFIR Transparency

Date

5 September 2022

Regulations

MiFID II and MiFIR

Articles 20 and 21 of MiFIR

Level of Significance of Change

Minor

Main Points

This question and answer update confirms that transactions between branches of the same legal entity, or between a branch and its head office, are not subject to transaction or transparency reporting requirements.

How Does This Change My Reporting?

If you have both a head office and a branch with reporting obligations, this Q&A confirms that there is no need to report any transactions between the two.

What Do I Need To Do?

Inform TRAction if you have both a head office and a branch with reporting obligations and we will arrange to exclude these transactions.

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Sophie Gerber

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Sophie Gerber

Sophie works in our Sydney office. She is co-CEO and founder of TRAction and focuses on assisting clients in Australia, Europe and Asia to meet their regulatory requirements with trade and transaction reporting solutions as well as development of the best execution platform. She has extensive experience in providing compliance and legal services to Australia’s financial services and credit participants. Her vast experience coupled with in-depth knowledge of business practicalities, regulatory compliance and financial services laws allow her to effectively and efficiently engage with clients.