Background
The final legislative texts of Directive 2014/65/EU2 (MiFID II) and Regulation (EU) No 600/20143 (MiFIR) were approved by the European Parliament on 15 April 2014 and by the European Council on 13 May 2014. The two texts were published in the Official Journal on 12 June 2014 and entered into force on the twentieth day following this publication – i.e. 2 July 2014.
Many of the obligations under MiFID II and MiFIR were further specified in the Commission Delegated Directive4 and two Commission Delegated Regulations 5 6 , as well as regulatory and implementing technical standards developed by the European Securities and Markets Authority (ESMA).
MiFID II and MiFIR, together with the Commission delegated acts as well as regulatory and implementing technical standards will be applicable from 3 January 2018.
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