MiFID II marches on
The last day in March represented a significant milestone on the crowded MiFID II timeline, with the remaining regulations and directives now finally published in the EU Official Journal. If you recall last year’s proposals for delaying implementation until January 2018, there were some far from subtle hints that the new deadline assumed the transpositions and relevant technical standards were delivered by mid-2016. Even with the finish line pushed out to January 2018, this less than speedy endorsement of the RTS means that MiFID II is looming rather faster than some might like.
In addition to the flurry of ESMA publications this week and last, the UK regulator also published its next consultation paper and its first MiFID II implementation policy statement, having already set out in January its timetable for authorisation and variations of permission for day one. As we spring into Q2 it’s full steam ahead for all investment firms as they gear up for January 2018.