The Mifid II countdown

Author: Lizzie Meager, Brian Yap, John Crabb | Published: 26 May 2017

The EU directive has disoriented the investment research market. Will it find the correct path forward?

Following years of contemplation and revisions, somehow managing to arrive one year late and that still being too early, round two of the EU's Markets in Financial Instruments Directive (Mifid II) is a particularly unwelcome guest.

With far-reaching implications for brokers, traders and advisors, research analysts, lawyers and chief executives, from California to Canberra and (almost) everywhere in between, never before has the financial services industry been so united by one cause – and by a piece of regulation, no less.

And with just over six months to go, some of those implications are only now trickling down. The Asian market is now beginning to get to grips with what Mifid II means for it (see boxout on pages 26 and 27), and the US is doing all it can to minimise the impact of...