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Mifid II regulation still full of unknowns 

August 8, 2016

FT Advisor

Mifid II’s legislative effect on UK firms is still a great “unknown” and the industry faces a big challenge over this, the chief executive of the Wealth Management Association has said.
In a video interview with Investment Adviser’s Eleanor Duncan, Liz Field said while the implementation of Mifid II had been pushed back, there were still problems to be overcome.
“We have been working closely with our member firms, with the Treasury and the FCA and with all the European counterparties who have been developing and writing the text to make sure there is a Bible for our firms,” she stated.
“This would be outlining each component, whether this is best execution, costs and charges, transaction reporting, the whole gambit - but some of it won’t be known for a while until the Level Three text comes out.

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