MiFID II: The final countdown

After years of regulatory and industry consternation over the European Securities and Markets Authority’s (ESMA’s) Markets in Financial Instruments Directive (MiFID II) rule, 1 the January 3, 2018 deadline is fast approaching. Although it is a European Union (EU) initiative, MiFID II has far-reaching global implications across asset classes, market participants, and jurisdictions. 

Despite the time that has passed since MiFID II was introduced, ongoing uncertainties surrounding regulator expectations have complicated firms’ compliance efforts. Regardless, ESMA chair Stephen Maijoor has announced that there will be no further delays in implementation, indicating strong expectations of compliance on day one rather than phased-in compliance as many were hoping for. Notwithstanding remaining regulatory uncertainties, the coming deadline will bring an end to speculation over industry standards in a post-MiFID II world.

This Regulatory Brief outlines (a) the known industry challenges of complying with MiFID II, (b) the remaining regulatory uncertainties, and (c) the outlook for 2018.

After years of regulatory and industry consternation over the European Securities and Markets Authority’s (ESMA’s) Markets in Financial Instruments Directive (MiFID II) rule, 1 the January 3, 2018 deadline is fast approaching. Although it is a European Union (EU) initiative, MiFID II has far-reaching global implications across asset classes, market participants, and jurisdictions. 
 
Despite the time that has passed since MiFID II was introduced, ongoing uncertainties surrounding regulator expectations have complicated firms’ compliance efforts. Regardless, ESMA chair Stephen Maijoor has announced that there will be no further delays in implementation, indicating strong expectations of compliance on day one rather than phased-in compliance as many were hoping for. 
 
This Regulatory Brief outlines (a) the known industry challenges of complying with MiFID II, (b) the remaining regulatory uncertainties
After years of regulatory and industry consternation over the European Securities and Markets Authority’s (ESMA’s) Markets in Financial Instruments Directive (MiFID II) rule, 1 the January 3, 2018 deadline is fast approaching. Although it is a European Union (EU) initiative, MiFID II has far-reaching global implications across asset classes, market participants, and jurisdictions. 
 
Despite the time that has passed since MiFID II was introduced, ongoing uncertainties surrounding regulator expectations have complicated firms’ compliance efforts. Regardless, ESMA chair Stephen Maijoor has announced that there will be no further delays in implementation, indicating strong expectations of compliance on day one rather than phased-in compliance as many were hoping for. 
 
This Regulatory Brief outlines (a) the known industry challenges of complying with MiFID II, (b) the remaining regulatory uncertainties
After years of regulatory and industry consternation over the European Securities and Markets Authority’s (ESMA’s) Markets in Financial Instruments Directive (MiFID II) rule, 1 the January 3, 2018 deadline is fast approaching. Although it is a European Union (EU) initiative, MiFID II has far-reaching global implications across asset classes, market participants, and jurisdictions. 
 
Despite the time that has passed since MiFID II was introduced, ongoing uncertainties surrounding regulator expectations have complicated firms’ compliance efforts. Regardless, ESMA chair Stephen Maijoor has announced that there will be no further delays in implementation, indicating strong expectations of compliance on day one rather than phased-in compliance as many were hoping for. 
 
This Regulatory Brief outlines (a) the known industry challenges of complying with MiFID II, (b) the remaining regulatory uncertainties

Regulatory brief

A publication of PwC's financial services regulatory practice

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