The EU’s financial markets regulator and supervisor has issued a public statement providing market participants with clarity concerning their reporting requirements.
ESMA aims at promoting coordinated action by National Competent Authorities (NCAs) in relation to the obligation by investment firms to publish some reports on best execution in accordance with Article 27(6) MiFID II.
ESMA stresses the importance of the best execution requirements under both the current and the reviewed MiFID II framework. Relevant firms should review the requirements to ensure their compliance.