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ESMA Q&A 1514 — Q&A — Third country issues - Transparency [Answer Published]

Financial servicesLevel 3Q&AMiFIRAnsweredOfficial source

Third country issues - Transparency

Question

Are transactions executed between a branch and its head office subject to transparency requirements?

Answer

[ESMA 70-872942901-35 MiFIR transparency Q&A, Q&A 9.3]

Answer provided by the European Commission in accordance with article 16b(5) of the ESMA Regulation (please see the related disclaimer in section 1 of this document)

No, transfers of financial instruments between two branches of the same legal entity or a branch and its parent company are not subject to the transparency or transaction reporting requirements, as they do not entail a change in the ownership of financial instruments.

Source: ESMA original document