New EC finance commissioner said Tuesday position limit rules need re-write
London lawyers have raised concerns over
the lack of progress in defining position limit regulatory
technical standard (RTS) under Mifid II amid warnings some of
the outstanding RTS are the most controversial aspects of the
RTS 21 – which covers position
limits for commodity derivatives – was in March flagged by the European
Commission as requiring some "fine-tuning" by the European
Securities and Markets Authority (Esma) before it could be
endorsed by the Commission.
But lawyers expressed frustration this
week after European Commission vice president Valdis
Dombrovskis said on Tuesday the position limits RTS must be
rewritten but gave no indication on when the final rule will
look like or when this work will be complete.
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