Further Pieces Of MiFID II Puzzle Fall Into Place

TECHNICAL STANDARDS BECOME EFFECTIVE

As 3 July 2017 gets closer, and January 2018 is also approaching rapidly, the regulators and the in-scope firms across Europe are well advanced in their efforts for transposing MiFID II.

The missing pieces of the regulatory puzzle are the majority of the 'Level 2' measures. These capture the regulatory technical standards (RTS) and the implementing technical standards (ITS) adopted by the European Commission. The pending RTS (565-592/2017) were published in the Official Journal of the European Union on 31 March 2017 and will enter into force as of 20 April 2017. The RTS and the ITS will become mandatory starting from the date of applicability of MiFID II and MiFIR thus giving further weight to 3 January 2018 as the implementation deadline.