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EU Sees Light at End of Tunnel on MiFID II Overhaul: Timeline 

May 17, 2016

Julia-Ambra Verlaine

European Union policy makers say the end’s in sight for the overhaul of market rules known as MiFID II, a vast law that affects nearly every financial firm operating in the bloc, from giants like Deutsche Bank AG and Goldman Sachs Group Inc. to small hedge funds.

Putting it into practice hasn’t been a straightforward process. Here’s a list of the key dates still to come and a brief history to show how we got here.

The first task is to nail down a proposed one-year delay -- to Jan. 3, 2018 -- of the revised Markets in Financial Instruments Directive, or MiFID II. The European Parliament and the EU’s 28 member states reached an agreement in early May on a final version of the legislation that postpones the MiFID II application date.

The parliament plans to vote on the bill in June, according to Markus Ferber, the assembly’s lead lawmaker on the file. For the member states, national officials plan to sign off on the bill on May 18. After that, ministerial-level approval is needed, and could come when EU finance ministers convene in Luxembourg on June 17. Read more

 
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