The FCA has published a supervisory statement on the operation of the MiFID Markets regime after the end of the EU withdrawal transition period.
The statement is designed to help market participants understand the FCA's approach to the MiFID regime post-Brexit and covers a range of issues including the Double Volume Cap, transparency waivers and deferrals, equity transparency, bond transparency, derivatives transparency and commodity position limits.
The statement comes as the FCA prepares for the possibility that there will not be a free trade agreement between the UK and EU and no mutual equivalence decisions in areas relevant to the MiFID markets regime.
Consequently, the statement sets out how the FCA will operate the pre and post-trade transparency regime for the secondary trading of financial instruments post-Brexit.
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