The letter outlines that ESMA and the EC agree that it is not advisable to perform the annual review of RTS 2 in the course of 2019 due to the remaining uncertainties around a potential no-deal Brexit. ESMA reiterates however its intention to perform the annual review of RTS 2 by 30 July 2020.
The letter follows on from earlier correspondence on 17 June 2019 in which ESMA raised concerns that including or excluding UK data from the assessment would have a fundamental impact on the results and given the remaining uncertainties regarding the timing and conditions of Brexit, ESMA does not consider that this is a suitable time for performing the assessment.
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