In the latest edition of Market Watch, FCA looks at how MiFID firms should be preparing for the end of the transition period. It:
- explains the temporary transitional power, noting why it is not appropriate to use it for transaction reporting, and so firms and ARMs must comply with the changes to their regulatory obligations by the end of the year – and must be able to back-report missing information as soon as possible after the end of the year;
- refers firms to its website for updates on how the transparency regime will work from 2021 onwards; and
- notes the continued availability for testing of the FCA FIRDS and FITRS systems.