Europe: The great delay

Author: | Published: 22 Feb 2016

So after months of rumour and speculation, it's official: the beast that is Mifid [Markets in Financial Infrastructure Directive] II is to be delayed. To the disappointment of some but the glee of most, the European Commission formalised the announcement in February.

It cited problems with drafting essential technical standards, hitting back at inevitable criticism with the claim that around 15 million financial instruments had to be assessed. The technical standards themselves run to more than a thousand pages and have...