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ARTICLE · 29 MARCH 2018

Progress On MiFID II

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The Markets in Financial Instruments Directive II / Markets in Financial Instruments Regulation ("MiFID II") came into force throughout the EU on 3 January 2018.

United KingdomCorporate/Commercial Law
Barbara Jamieson
Barbara Jamieson

The Markets in Financial Instruments Directive II / Markets in Financial Instruments Regulation ("MiFID II") came into force throughout the EU on 3 January 2018. With reports that there are several matters that firms have not yet managed to address, and some EU Member States still not having implemented their transposition measures, it seems an appropriate time to take stock of where we are, and focus on what firms should be doing now.

In September 2017, the FCA made the following statement:

"We are very much aware of how much work many firms have been engaged in for a very long time now in re-tooling and preparing for next year. This means we have no intention of taking enforcement action against firms for not meeting all requirements straight away where there is evidence they have taken sufficient steps to meet the obligations by the start-date, 3 January 2018."

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