Regulatory Alerts2016-08-26
Added · Updated
PS17/5: Markets in Financial Instruments Directive II implementation – Policy Statement I
The Financial Conduct Authority publishes near-final rules and a fees instrument to implement Markets in Financial Instruments Directive II (MiFID II) for UK-regulated firms, with final rules expected in June 2017 for application from 3 January 2018. The document allows trading venues to use maximum permitted post-trade transparency deferrals and exempts collective portfolio managers and pension funds from transaction reporting requirements. It also mandates that Article 3 retail financial advisers either tape all relevant conversations or keep contemporaneous notes, and introduces application fees for new regulated activities arising from the implementation.
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