ESMA_QA_2002
Topic
DLT multilateral trading facility (DLT MTF)
07/11/2023
Subject Matter
Authorisation for credit institutions to operate a DLT MTF
Question
Should a credit institution authorised in accordance with CRD IV/CRR and providing investment services or performing investment
activities in accordance with MiFID II/MiFIR be required to apply for an authorisation as an investment firm in order to operate a DLT MTF (distributed ledger technology multilateral trading facility)?

Level 1 Regulation
Regulation (EU) 2022/858 - DLT Pilot Regime Regulation (DLTR)
ESMA_QA_1997
Topic
Remuneration
26/10/2023
Subject Matter
Payments to be considered as remuneration
Question
When calculating remuneration for small closely held company where the majority owner is also an employee, a member of management and the board, should the dividends he/she earns from his/her shares in the company be added to remuneration?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries
ESMA_QA_1977
Topic
Access to CCPs and trading venues
13/10/2023
Subject Matter
Fees charged to CCPs in relation to access to trading venues
Question
To what extent can a trading venue apply different fee schedules to CCPs under Article 36 of MiFIR? Is it possible for a trading venue to apply different fee schedules depending on whether a CCP has close links to the trading venue?
Level 1 Regulation
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets
ESMA_QA_1973
Topic
EU-CCPs
03/10/2023
Subject Matter
Sanctions regime of International Investment Bank
Question
Is there a legal basis for the measures taken by capital market participants (including Clearstream and Euroclear) to restrict any trading of International Investment Bank - IIB issued bonds?
Level 1 Regulation
Regulation 648/2012 - OTC derivatives, central counterparties and trade repositories (EMIR) - CCPs
ESMA_QA_1966
Topic
Product governance
02/10/2023
Subject Matter
Integration of sustainability within the MiFID II product governance requirements
Question
When conducting the negative target market assessment for a product that does not consider sustainability factors, should a firm also consider any clients’ sustainability-related objectives the product is not compatible with?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries