ESMA Announces Consultation Period for Implementation of the Revised MiFID II MiFIR

The European Securities and Markets Authority ("ESMA") issued a request for comments on a discussion paper and a consultation paper regarding the implementation of the revised MiFID and MiFIR. The main issues covered in the discussion paper and consultation paper are those addressing the structure, transparency and regulation of financial markets, as well as those aimed at strengthening investor protection.

ESMA also noted that it will hold three public hearings on secondary markets, investor protection and commodity derivatives issues. The first two hearings will be held on July 7 and July 8, 2014.

Comments on the papers must be submitted by August 1, 2014.