MiFID II: The Deloitte Perspective

Implications for capital markets participants

The European Commission (the Commission) has released its proposals to amend and extend the Markets in Financial Instrument Directive including the introduction of a new Regulation (known as MiFID II). Deloitte's Centre for Regulatory Strategy released a commentary on the proposals in their entirety which can be accessed here. In this paper Deloitte's Banking & Capital Markets practice highlights the headline issues we believe should be at the top of the agenda for senior management of market participants. These issues have ramifications for business models; and given the substantial use of delegated acts in the proposals, organisations will need to keep a watchful eye on the evolution of the final rules.