On 28 April, the European Council’s Permanent Representatives Committee (Coreper) agreed its approach to negotiating a one-year extension for the transposition and application of the new ‘markets in financial instruments’ rules.
On 28 April, the European Council’s Permanent Representatives Committee (Coreper) agreed its approach to negotiating a one-year extension for the transposition and application of the new ‘markets in financial instruments’ rules. The Netherlands presidency will now have to start negotiations with the European Parliament.
The rules comprise the regulation (MiFIR), aimed at improving transparency and competition of trading activities; and the directive (MiFID II), amending rules on the authorisation and organisational requirements for providers of investment services and on investor protection. The Council proposes to set:
· the deadline for the member states to transpose MiFID II into national legislation for 3 July 2017; and
· the date of application of both MiFID II and MiFIR for 3 January 2018.
The European Securities and Markets Authority informed the Commission in October 2015 that a delay in the technical implementation of MiFID II, originally planned for January 2017, was unavoidable.
On 28 April, the European Council’s Permanent Representatives Committee (Coreper) agreed its approach to negotiating a one-year extension for the transposition and application of the new ‘markets in financial instruments’ rules.
On 28 April, the European Council’s Permanent Representatives Committee (Coreper) agreed its approach to negotiating a one-year extension for the transposition and application of the new ‘markets in financial instruments’ rules. The Netherlands presidency will now have to start negotiations with the European Parliament.
The rules comprise the regulation (MiFIR), aimed at improving transparency and competition of trading activities; and the directive (MiFID II), amending rules on the authorisation and organisational requirements for providers of investment services and on investor protection. The Council proposes to set:
· the deadline for the member states to transpose MiFID II into national legislation for 3 July 2017; and
· the date of application of both MiFID II and MiFIR for 3 January 2018.
The European Securities and Markets Authority informed the Commission in October 2015 that a delay in the technical implementation of MiFID II, originally planned for January 2017, was unavoidable.
