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European Commission concedes one-year MiFID II extension

Joe Mont | February 16, 2016

The European Commission has proposed a one-year extension to the application date of its revised Markets in Financial Instruments Directive, better known as MiFID II, a comprehensive slate of unified regulations across member states for securities markets and investment firms.

The new implementation date, if approved by member states, will be Jan. 3, 2018. This delay “is to take account of the exceptional technical implementation challenges faced by regulators and market participants,” a statement says.

“The reason for the extension lies in the complex technical infrastructure that needs to be set up for the MiFID II package to work effectively,” the proposal adds. “The European Securities and Markets Authority (ESMA) has to collect...

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