EU Hands UK Post-Brexit Relief From MiFIR Reporting Rules

Law360, London (October 28, 2020, 11:48 AM GMT) — Europe’s markets watchdog has said that Britain’s trading venues qualify for relief from onerous reporting rules after the Brexit regulatory transition period ends, a decision that will encourage the bloc’s investment banks to continue dealing in derivatives in the U.K.

The European Securities and Markets Authority said on Tuesday that financial exchanges established in Britain, such as Bloomberg Trading and TP ICAP, meet a set of criteria, which means they will not be required from the start of January to publicly disclose transactions completed through them.

The bloc’s Markets in Financial Instruments Regulation, known as MiFIR, means that transactions concluded by EU investment…

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