What are watchdogs up to during COVID-19?

What are watchdogs up to during COVID-19?

Global regulatory response to the COVID-19 turmoil is heavily dominated by relief packages offered to the financial sector in an attempt to help mitigate the impact of the pandemic and the aftermath it may have on the industry.

ESMA: New Tick-Size Regime Postponed

On March 20th ESMA, the European financial markets watchdog issued a Public Statement – among other measures – to support the severely affected sector.  This Statement postponed the application of Article 17a of MiFIR which regulates the tick-size regime for Systematic Internalisers, from 26th March to 26th June 2020.  This was done to avoid the creation of “unintended operational risks for EU market participants in the current market situation in the context of the increasing spread of the COVID-19 pandemic”.

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