The FCA published a consultation on new guidance on the regulatory perimeter for trading venues. The FMLC as submitted a response drawing attention to the legal uncertainty which may arise in relation to the FCA’s proposed treatment of certain ESMA Q&As on MiFID II and MiFIR market structures topics, in particular the absence of clarification on the FCA’s treatment of Q&A 25 in Section 3 of the ESMA Q&As.
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