Mifid II RTS 22 has raised concerns over the privacy of individuals' data
Legal experts have offered a lacklustre
response to the controversial Mifid II rules that mandates
personal information on traders after they were released on
Thursday, arguing the latest version does not answer some of
their serious concerns.
Mifid Regulatory Technical Standard (RTS)
22 on reporting obligations - adopted by the European
Commission on Thursday - lays out the requirements for firms
when they are reporting data and the specific format that they
must take but Thursday's final draft left legal experts
"The final RTS confirm what we have been
expecting," said partner at law firm Katten Muchin Rosenman,
Nathaniel Lalone. "The new Mifir transaction reporting regime
is significantly more complex than the current regime under
Mifid I, and serves as a timely reminder of how much work is
required for market participants to prepare for go-live in
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