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EU financial services: ESMA algorithmic trading briefing; MAR buy-back RTS changes; AIFMD/UCITS liquidity RTS and MiFIR amendments in OJ; Insurance Europe on IRRD; updated ESMA Q&As

Published on: 27 February 2026

Published by a LexisNexis EU Law expert
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EU financial services developments

ESMA publishes supervisory briefing on algorithmic trading under MiFID II

ESMA has released a supervisory briefing aimed at ensuring uniform oversight of algorithmic trading throughout the EU under the Recast Markets in Financial Instruments Directive (2014/65/EU) (MiFID II). It equips National Competent Authorities (NCAs) with actionable tools and clearer expectations for monitoring firms that deploy algorithmic trading, concentrating on areas of divergent practice such as pre-trade controls, governance structures, testing regimes and the outsourcing of algorithmic trading systems. The paper also considers new technological trends and sets out points to consider for the application of AI. Although not legally binding, the briefing supplements existing obligations and helps NCAs pursue a harmonised supervisory approach overall. Source: ESMA issues a supervisory briefing on algorithmic trading

ESMA proposes amendments to buy-back programme rules following Listing Act changes

ESMA has issued a report suggesting updates to Commission Delegated Regulation 2016/1052 concerning buy-back programmes and stabilisation measures (RTS), reflecting the amendments to the Market Abuse Regulation (MAR) brought in by the Listing Act (Regulation (EU) 2024/2809). The revised draft technical standard is to be sent to the European Commission for adoption...

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