Financial Services partner Nathaniel Lalone was quoted by Risk.net on a recent Q&A released by the European Securities and Markets Authority (ESMA) to provide clarification on data reporting in light of the revised Markets in Financial Instruments Directive (MiFID II). The Q&A is meant to clarify specific criticisms ESMA has had regarding the quality of post-trade data provided by data services. Nate stated, "ESMA guidance often has sphinx-like qualities, however the updated Q&A is particularly direct and specific. ESMA clearly has concerns with some of the current practices around post-trade transparency, and has set out quite clearly its expectations on the manner in which this information is to be made available to the public." ("ESMA Clampdown Puts Pressure on MiFID Data Services," May 30, 2018)
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