Central Bank of Ireland Markets Update Issue 7 2017 - 14 September 2017 Central Bank of Ireland Exchange Traded Funds - publication of responses to Discussion Paper and Central Bank to host ETF conference Central Bank of Ireland confirms compliance with ESMA Guidelines on the Calibration of Circuit Breakers and Publication of Trading Halts (“the Guidelines”) Industry letter – review of MiFID suitability requirements Amendments to the Consumer Protection Code arising from the transposition of MiFID II into Irish law Enhancements to the Regulated Disclosures submission process Publication of Minimum Competency Code 2017 and Minimum Competency Regulations 2017 Transposition of MiFID II into Irish law - S.I 375 of 2017 European Commission Commission report in relation to MiFIR Systematic internaliser regime delegated act adopted by the Commission European Council MiFID II Level 2 ESMA (European Securities and Markets Authority) MiFID II: ESMA publishes transitional transparency calculations for bonds and updates calculations for two other asset classes ESMA warns against unauthorised use of its identity and logo ESMA updates Q&A on MiFID II implementation ESMA sees valuation risk at highest levels due to financial weakness and geopolitical uncertainty ESMA agrees to prolongation of short selling ban by Spanish CNMV ESMA updates Q&A on MAR ESMA publishes the responses to its Consultation on CCPs management of conflict of interest ESMA issues guidelines on portability of data between trade repositories ESMA publishes the responses to its Consultation on CRA Endorsement Guidelines ESMA publishes the responses to its Consultation on trading obligation for derivatives under MiFIR ESMA agrees first position limits under MiFID II ESMA publishes responses to its Consultation under the MMF Regulation ESMA updates its MiFID II guidelines on transaction reporting, order record keeping and clock synchronisation Please note that this Markets Update is intended to be a general summary only and does not purport to constitute an interpretation of, or the Central Bank’s position on, any of the legislative provisions, rules, requirements or guidance referenced herein. In case of any doubt, you should refer to the relevant legislative provision, rule, requirement or guidance document as applicable. The staff of the Central Bank are not authorised and cannot give you legal advice; you should seek this from your own legal advisor, if required.