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Banks May Get More Time to Prepare for Financial Market Regulation

Aarti Maharaj | November 10, 2015

The EU is poised to delay the release date of an ambitious regulation that will overhaul financial market rules, the Financial Times said.

On Tuesday, the European Commission said it is considering delaying the planned January 3, 2017 start date of its MiFID II legislation by a year. The legislation is seen as one of the most thorough responses to the financial crisis of 2008 and the EU has often regarded it as an “ambitious” regulation. MiFID II is expected to repair derivatives trading and monitor financial advisor activities.  The delay of the regulation comes amid concerns of the accompanying technologies that may not be ready in time to hit the January 2017 start date. Banks and other financial institutions may need extra time to build the right systems to comply with the new rules.

The...

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