MiFID II – From a compliance to a business challenge (Deloitte)

May 2014

KEYWORDS: European Commission, European Council, European Parliament, trialogue, MiFID, MiFID II, financial crisis, transparency, G20

Authors:

Deloitte

Organizations:
  • Deloitte

Summary:

After intense discussions between the European Commission, Council and Parliament (the “Trialogue”), the new MiFID II package, which runs to more than 700 pages, was adopted by the European Parliament (EP) on 15 April 2014.

While primary objectives of the initial directive (MiFID I) were to increase the competition, improve investor protection and EU passporting, MiFID II package introduces a range of measures which seek to address consequences of MiFID I and issues raised by the financial crisis, such as making financial markets more efficient, resilient and transparent, improving investor protection, as well as addressing commitments made by the G20 on these topics.

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