FCA Releases Discussion Paper Under MiFID II

The revised Markets in Financial Instruments Directive (“MiFID II”) came into force on 2 July 2014. It will have effect on 3 January 2017, reflecting the period required for European Union member states to transpose its provisions into national law. The Financial Conduct Authority (“FCA”) today published a discussion paper implementing certain aspects of MiFID II – DP 15/3 “Developing our approach to implementing MiFID II conduct of business and organisational requirements”. This seeks views from firms, trade bodies and consumer groups on a number of key policy choices which the FCA will make when it implements MiFID II. The FCA will publish more detailed consultations on implementation later in the year.