The European Commission announced yesterday that it was
considering delaying implementation of the Markets in Financial
Instruments Directive (Mifid II) for another year. Counsel have
said the move was both expected and welcomed.
The potential delay is to ensure smooth and effective
implementation of the regulation, which was due to take full
effect on January 3 2017. The European Securities and Markets
Authority (Esma) had previously warned that the deadline for IT
system implementation would be difficult to meet.
"The Commission’s recognition that Mifid
II’s introduction needs to be delayed is not
exactly surprising," said Jeremy Jennings-Mares,...