On 14 January, agreement in principle was reached between the
European Commission, Parliament and Council on the legislative
package commonly referred to as MiFID II. A draft regulation and
directive have now been published. Although no timeline has been
published as to when the final text will be made available, it is
hoped that this will be before April 2014. Matheson held an
introductory client briefing on MiFID II on 11th of February. A
copy of the presentation is available
here. We intend to hold a more focused session on the highest
impact provisions later in the year, when the final text of the
directive is published.
When implemented in 2007 MiFID created a new regulatory
landscape. Following the global financial crisis, the European
Commission decided to review the MiFID framework and is due to
issue the revised MiFID regime in the coming months. The package
has been heavily negotiated and the final text is awaited with
anticipation by industry participants.
