(MiFID II) The Markets in Financial Instruments Directive
MiFID II came into effect on 3rd January 2018
MiFID II – The Markets in Financial Instruments Directive is the EU legislation that regulates firms who provide services to clients linked to ‘financial instruments’ (shares, bonds, units in collective investment schemes and derivatives), and the venues where those instruments are traded.
The Markets in Financial Instruments Directive MiFID II is the framework of European Union (EU) legislation for:
– investment intermediaries that provide services to clients around shares, bonds, units in collective investment schemes and derivatives (collectively known as ‘financial instruments’), and
– the organised trading of financial instruments
MiFID was applied in the UK from November 2007, but is now being revised to improve the functioning of financial markets in light of the financial crisis and to strengthen investor protection.
The changes are currently set to take effect from 3 January 2018, with the new legislation being known as MiFID II — this includes a revised MiFID and a new Markets in Financial Instruments Regulation (MiFIR).
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