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ARTICLE · 30 APRIL 2014

An Update On MiFID II / MIFIR

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On the 23rd of April 2014, the European Parliament adopted updated rules for MiFID II.

European UnionFinance and Banking

On the 23rd of April 2014, the European Parliament adopted updated rules for MiFID II. The Directive and the Regulation are expected to enter into force in June 2014.

The new rules will be set as two pieces of legislation:

  1. directly applicable regulation (MiFIR) dealing inter alia with transparency and access to trading venues -
  2. a directive (MiFID II) governing authorisation and organisation of trading venues and investor protection.

The Directive (MiFID II) amends specific requirements regarding the provision of investment services, the scope of exemptions from the current Directive (MiFID I), requirements for investment firms on their organisation and the conduct of their business, organisational requirements for trading venues, powers available to competent authorities, sanctions and rules applicable for third party firms.

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