MiFID II: Key Considerations for Asset Managers

June 28, 2016

The Council of the European Union on 13 May 2014 formally endorsed a new regulatory regime that will replace the current Markets in Financial Instruments Directive (MiFID), which has been in force since 2007. The new legislation, in the form of a recast Directive (MiFID II) and Regulation (MiFIR), is scheduled to go into effect on 3 January 2018.

While investment firms still have time prepare for the impacts of MiFID II, steps should be taken now to assess a wide range of new requirements, including enhanced investor protection rules. The impact of these changes may vary among Member States. MiFID II is one of the most ambitious and contentious legislative reform proposals to come out of Europe in decades, with the potential to affect a wide range of asset management functions, including trading, product development, client services, human resources and IT infrastructure.

Read "MiFID II: Key Considerations for Asset Managers."