RTS 27 & 28 Reports for CySEC regulated entities
The period of the temporary suspension of the reporting obligation for the Regulatory Technical Standards (RTS) 27 formally ended on the 28th of February 2023. The RTS 27 obligation is expected to re-apply, temporarily, until the revisions of the Markets in Financial Instruments Regulation (MiFIR) and Directive (MiFID) are concluded. The RTS 27 and RTS 28 reports are considered part of the best execution obligations of European and consequently Cyprus Investment Firms (CIF).
The RTS 27 & RTS 28 Reports were developed by the European Securities and Markets Authority (ESMA), mandating obliged entities to publish the said reports on a quarterly and annual basis respectively. The purpose of the reports is to provide retail and professional clients, with information regarding the execution venues preferred and the quality of execution for all transactions.
In this commentary, the SALVUS Regulatory Compliance team discusses the current and the expected RTS 27 and 28 reporting requirements, and the investment firms’ responsibility to provide for best execution, in 4 sections:
- The RTS 28 Report
- The RTS 27 Report
- The identified weaknesses
- The Order Execution Policy
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Find the full article here: https://salvusfunds.com/2023/03/06/rts-27-28-reports-for-cysec-regulated-entities/
