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Pegasus

Preparing for MiFID II

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MiFID II and MiFIR (together ‘MiFID II’) will underpin the provision of investment services across and into Europe, both in terms of how trading is carried on and how firms organise and conduct themselves. They will affect both the wholesale and retail sides of the industry, in relation to both securities and derivatives. Nor should MiFID II be seen as solely European, as its effect will be far reaching and influence all firms dependent on the European client base.

Recently legislation delaying the implementation of MiFID II to 3 January 2018 was published in the Official Journal of the EU. Despite the delay, firms need to continue to press ahead with their implementation work. There is still a lot to do to be ready in time for the new implementation date. In addition, the UK’s referendum vote to leave the EU should not be taken as a sign for firms to stop their work as it is expected that MiFID II will be implemented before the UK concludes its exit negotiation. The FCA’s statement on the EU referendum result stated: “Firms must continue to abide by their obligations under UK law, including those derived from EU law and continue with implementation plans for legislation that is still to come into effect.”

To say that MiFID II / MiFIR will change the way European markets operate in the future is without doubt hugely underplaying the likely impact of this legislation and staying on top of developments will be crucial for firms. Our blog, Regulation tomorrow, tracks global regulatory developments. In particular the EU pages track materials published by the European authorities, as well as various member states’ regulators, including those relating to MiFID II / MiFIR. Subscription to the blog is free and updates can be received on a daily or weekly basis.

We are committed to helping firms keep on top of MiFID II

Pegasus is our dedicated online resource housing all our MiFID II know-how and links to other resources clients will need for any MiFID II project.

Our materials are strategically grouped under the core topic headings below so that information is readily accessible.

Our experience Legislation tracker Legislation--Relevant-papers-EU Legislation--Relevant-papers-UK MiFID-II-Academy Investor-protection Transparency,-transaction-reporting-and-wholesale-conduct Trading-venues-and-market-infrastructure High-frequency-and-algorithmic-trading-obligations.jpg Impact-on-commodities-and-commodity-derivatives-trading Corporate-Governance Third-country-issues