The European Parliament yesterday adopted a series of changes to MIFID II as part of the “quick fix” package aimed at reducing the burden of the rules in some respects(see here). The press release can be found here and the provisional texts here. The amendments include changes to the way in which the Ancillary Activity Test is applied when using the Ancillary Activity Exemption, and also a streamlining of the position limits and reporting regime so that it focuses on “critical” contracts (other than for certain agricultural commodities underlyings). The changes will apply 12 months after they are published in the Official Journal of the European Union.
Source: CTRM Center