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Uncertainty of Mifid II looms large over wealth managers 

June 15, 2017

Aime Williams, Financial Times

"It might not sound very scary, but the whisper the words “MiFiD II to any wealth manager and watch the blood slowly drain from their face.

A fearsome piece of financial legislation, the Markets in Financial Instruments Directive II has been seven years in the making, but comes into force in January next year. With just months to go before these complex rules are implemented, firms complain that they are still waiting for regulators to clarify exactly how they will work.

“It is the project from hell and details are coming out late, so firms are having to take a view and crack on,” says Ian Cornwall, director of regulation at the wealth managers’ industry body."

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