Luxembourg's investment management industry has a new
buzzword, a new obsession, a new battlefield: MiFID II. The
directive on markets in financial instruments will have a
tremendous impact on the way we run our business. It will be a
norm-buster. Everybody's been saying so.
But how will the norms be busted, exactly? And how will it
affect the business models of Luxembourg management companies?
Please read on for the first article in a series spotlighting
management companies and MiFID II, and check back soon for more.
Today's topic: context and scope.
Looking back, looking ahead
MiFID II is a major directive that's been in the works since
2014. It updates the original MiFID, which was implemented in 2007
and aimed inter alia to enhance and harmonise customer
protection across Europe for the provision of investment services.
Originally foreseen for 2017, MiFID II has been delayed and will
come into force in January 2018. And, it's big: if you want to
read the
