ESMA updates statements on the impact of Brexit on MIFID II/MIFIR and the Benchmarks Regulation

ESMA has updated two statements on its approach to the application of key provisions of MiFID II/MiFIR and the Benchmark Regulation (BMR).

• The Impact of Brexit on MiFID II/MiFIR

• The Impact of Brexit on the BMR

These statements update previous ones issued in March 2019 and October 2019 reflecting ESMA’s approach, should the UK leave the EU under a no-deal Brexit. However, as the Withdrawal Agreement entered into force on 1 February 2020, and the UK entered a transition period that will end on 31 December 2020, these statements needed to be revised.