European Union – October 27, 2026 -- The European Securities and Markets Authority (ESMA) has withdrawn or amended several Questions and Answers (Q&As) covering market structure under MiFID II, the Market Abuse Regulation (MAR) and the Short Selling Regulation (SSR), removing guidance it considers outdated, duplicative or no longer relevant.
ESMA targets Q&As overtaken by legislative amendments and established practice
The review is part of ESMA's Simplification and Burden Reduction (SBR) initiative. It focused on Q&As made redundant by legislative amendments already reflected in market practice, and on those covered by other ESMA guidance.
Overlapping supervisory briefings and opinions drive several withdrawals
Some Q&As were withdrawn or amended because the same issues are addressed in other ESMA publications, including supervisory briefings and opinions. ESMA states the aim is to cut unnecessary complexity and keep the Q&As relevant, proportionate and consistent with the current legislative framework.
Market participants subject to MiFID II, MAR and SSR are directed to read the updated Q&A set alongside other ESMA guidance for the most comprehensive interpretation of the applicable rules. ESMA did not list the specific Q&As affected in the announcement.