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15th December 2015
MiFID II Consultation
FCA consults upon secondary trading of financial instruments whilst Europe decides whether to delay implementation by a year.
The second Markets in Financial Instruments Directive (MiFID II) is set to apply from 3rd January 2017 across all EU member States. In preparation, all Member States must change their laws and regulations in line with the directive six months prior to implementation, by 3rd July 2016.
Whilst the Financial Conduct Authority today confirmed that the European Parliament, the Council of the European Union and the Commission are all in discussion as to whether the implementation date of MiFID II should be pushed back by one year, that is yet to be decided.
As such, the regulator has pressed ahead with issuing the first of two MiFID II Consultation Papers today, with the second Consultation Paper due in the early part of 2016 unless there is a change to the legislated timetable in the meantime.
This first consultation paper (CP15/43) from the regulator deals with issues related to the FCA’s regulation of the secondary trading of financial instruments with views sought from industry members before the closing date of 8th March 2016.
To view the full consultation, click here.
MiFID II: FCA Consults upon Secondary Trading of Financial Instruments
Read our latest articles, news and views affecting compliance and regulation in the UK Financial Services Industry.
MiFID II Proposed Date
Timetabled for implementation in 2017, Europe is discussing if this should be pushed back a year.
** Update March 2016: Since the below was written, the European Commission has confirmed implementation of MiFID II is to be extended to 3rd January 2018. Click here to read about the MiFID II extension.**