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ARTICLE · 30 JULY 2014

Updated Legislative Framework For Markets In Financial Instruments (MiFID II)

Van Bael & Bellis
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All European firms engaged in investment business or providing investment services to clients should comply with MiFID II by 2 January 2017.

European UnionFinance and Banking

Directive 214/65/EU on Markets in Financial Instruments repealing Directive 2004/39/EC ("MiFID I") and Regulation (EU) 600/2014 on Markets in Financial Instruments (both "MiFID II") have been published in the European Official Journal on 12 June 2014. The new rules will enter into force thirty months later, meaning that all European firms engaged in investment business or providing investment services to clients should comply with MiFID II by 2 January 2017. The updated rules for markets in financial instruments are available here.

The new framework aims to make financial markets more efficient, resilient and transparent and will have a significant impact on the governance and business organisation of investment firms and banks providing investment services or engaging in investment activities. Building on the rules already in place, MiFID II extends the scope of products and activities covered, and:

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