The deadline for MiFID II implementation is now imminent (3 January 2018) and there is still a lot to do to be ready in time. However, a recent Moore Stephens survey showed that the majority of firms have not yet planned their MiFID II response.
MiFID II (which actually refers to both MiFID II and MiFIR) is the updated version of MiFID following ESMA’s review of the legislation and its effectiveness. MiFID II takes into account some of the developments and changes to technology and in the market place since 2007, creating regulation and requirements around these changes to ensure/safeguard investor protection. Although MiFID II is a piece of EU legislation, the effects will be felt globally as it impacts anyone operating through Europe.
MiFID II increases transparency as well as consumer protection. It introduces substantial changes to the structure of the market with even more types of operators falling within its scope, as well as new financial instruments, a more complex authorisation processes, additional governance and organisational requirements , together with modifications to the Conduct of Business rules.

MiFID II Academy
Given the significant work involved to ready firms for the implementation date, the significant impact on firms getting it wrong, and the rapidly decreasing timescales to have everything in place, we have developed the MiFID II Academy. Sign up to join and receive access to resources, tools and events to equip you for the journey ahead.