The market still awaits publication of two RTS level two specifications
The European Securities and Markets Authority (Esma) has
said that it has started work on some level III texts under
sweeping regulatory directive Mifid II.
"Esma has initiated some work on level III texts for Mifid
II, these would take the form of guidelines and questions and
answers," an Esma spokesperson told FOW on Tuesday.
A level three text would be the regulator’s way
of providing additional guidance and clarifying certain issues
that arose from the level two texts. The level two text of
Mifid II took the form of 32 regulatory technical standards
(RTS) and three waves of delegated acts.
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