Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 10-day trial to continue exploring with full access.

Potential leniency for those who miss MiFID II/MiFIR deadline

Bill Coffin | January 2, 2018

MiFID II is a long-awaited update to the Markets in Financial Instruments Directive, a sweeping package of financial services rules and regulations that the EU passed in 2007. But as the global financial crisis occurred shortly afterward, revisions to MiFID began almost immediately, culminating in a years-long debate over how to expand the scope of MiFID to encompass new practices within the financial services industry, as well as to harmonize financial services regulations across all EU jurisdictions. By 2014, MiFID was replaced with MiFID II and accompanying legislation the Markets in Financial Instruments Regulation (MiFIR).

Put together, MiFID II/MiFIR expand the scope of MiFID to cover a broader scope of companies and financial products. It was originally slated to take effect in January 2017, but a one-year extension was granted to give more companies time to comply with the rule. That time has now elapsed, and on January 3, MiFID II/MiFIR becomes the law not just of... To get the full story, subscribe now.