On 20th December 2016, the European Securities and Markets Authority (ESMA) published its Questions and Answers document regarding the implementation of the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).

The purpose of this document is to promote common supervisory approaches and practices in the application of MiFID II and MiFIR in relation to regulatory data reporting topics. It provides responses to questions posed by the general public, market participants and competent authorities in relation to the practical application of MiFID II and MiFIR on:

• Legal Entity Identifiers (LEI) of the issuer; and 
• Date and time of the request of admission and admission 

The Q&A mechanism is a practical convergence tool used to promote common supervisory approaches and practices. ESMA will periodically review these Q&As on a regular basis to update them where required and to identify if, in a certain area, there is a need to convert some of the material into ESMA Guidelines and recommendations.

For more information on MAR click here.