ESMA proposes two amendments to natural person identifiers under MiFID II
The European Securities and Markets Authority has today submitted two amendments to the European Commission in relation to the draft regulatory technical standards on reporting obligations under Article 26 of the Markets in Financial Instruments Regulation- MiFIR (RTS 22). ESMA first submitted RTS 22 to the European Commission on 25 September 2015.
The amendments concern the identifiers for natural persons which must be used in transaction reports, specified in Annex II of RTS 22. Each Member State has specified which identifier should be used for its citizens and, in accordance with the wishes of the relevant national regulators, ESMA proposes the following amendments:
- only “CONCAT” codes are to be used for identifying natural persons of German nationality instead of a “personal identity card number” or “national passport number”; and
- the English translation for the Icelandic identifier “Kennitala” is corrected to “Personal Identity Code” from “National Passport Number”.
ESMA anticipates that the amendments can be taken into account in the context of the European Commission’s endorsement of this RTS.