Criteria for ESMA supervision derogations (MiFIR 600/2014)

This regulation sets the specific criteria for when the European Securities and Markets Authority (ESMA) may delegate the supervision of approved publication arrangements and reporting mechanisms to national authorities. It ensures a consistent approach to monitoring how financial trades are reported and made public across the EU.

This affects financial market operators and regulators. It clarifies which national authorities are responsible for oversight, ensuring that transparency requirements for securities trading are strictly enforced.