Latest Level 3 ESMA Q & As related to MiFID II/MiFIR

ESMA published and updated in the last couple of days additional Level 3 Q&A papers. Due to the specification and clarification purposes of the Level 3 papers, this should help you during the implementation phase and could clarify open questions. Please find the four updated Q&As from October 3rd and 4th 2017 below.

PwC provides you with this Newsletter an overview of the latest questions related to:

  1. Best Execution
  2. Recording of telephone conversations and electronic communications
  3. Post-sale reporting
  4. Information on costs and charges
  5. Client categorisation
  6. Transparency topics
  7. Non-equity transparency waivers
  8. The systematic internaliser regime
  9. Direct Electronic Access (DEA) and algorithmic trading
  10. Multilateral and bilateral systems
  11. Systematic internaliser
  12. Ancillary activity
  13. Position management controls

Read the whole article

We are happy to discuss with you any thoughts and issues you may have. We are also happy to review your solutions with regard to MiFID II and MiFIR.
Please do not hesitate to contact us.

Günther Dobrauz
Leader Legal FS Regulatory &
Compliance Services
+41 58 792 14 97

Michael Taschner
Senior Manager
PwC Legal FS Regulatory and
Compliance Services
+41 58 792 23 25

Orkan Sahin
Assistant Manager
PwC Legal FS Regulatory and Compliance Services
+41 58 792 1994

Published by

Guenther Dobrauz

Guenther Dobrauz

Guenther Dobrauz
Leader PwC Legal Switzerland
Birchstrasse 160
Postfach, 8050 Zurich
+41 58 792 14 97

Guenther leads PwC Legal in Switzerland and the Legal FS Regulatory & Compliance Services department. He is a PwC Partner since 2015 and a global expert on legal advisory, specializing in supporting the structuring, authorization and ongoing lifecycle management of financial intermediaries and their products. He in particular also focuses on leading large scale regulatory change and compliance alignment projects.

Guenther is the author of books on investment selection, FinTech Regulation and European, Swiss and Liechtenstein investment law. He also wrote 80+ publications in international expert magazines and has to date been speaking at more than 60 conferences worldwide.

Guenther Dobrauz received his Masters and PhD degrees in law from Johannes Kepler University (Linz, Austria). He holds an MBA from the University of Strathclyde Graduate School of Business (Glasgow, UK) and has participated in Harvard Business School’s Executive Education Program.

Guenther Dobrauz was Legal Counsel of an international hedge fund group and served as Managing Partner and Legal Counsel of a Swiss Venture Capital firm. He has practiced in court and with a leading business law firm.