ESMA publishes MiFID 2 reports

ESMA has published 2 reports on the impact of MiFID 2:

• advice to the Commission on the impact of the inducements and costs and charges disclosure requirements: despite some respondents to its consultation proposing radical changes, it thinks the regime generally works well but also believes some disclosures to ECPs and professional investors could be scaled back. It makes other suggestions for change that could improve client understanding of inducements; and
• report on position limits and position management under the commodity derivatives regime: ESMA’s report suggests from ways in which the framework could operate more efficiently, such as refocusing the position limit regime on the most important commodity derivatives contracts. The report will feed into a broader MiFID 2 review.