Corporate Advisory

European Parliament statement on MiFID II delay provides limited clarity

The European Parliament’s MiFID II negotiating team has informed the European Commission on its stance on a potential delay of the entry into force of MiFID II. The European Parliament’s Rapporteur for MiFID II, Markus Ferber, MEP, explained:

“The European Parliament’s negotiation team has informed the European Commission that we are ready to accept a one-year delay of the entry into force of MiFID II. However, this only applies if the Commission finalises the implementing legislation swiftly and thereby takes into account the European Parliament’s priorities. Furthermore, Commission and ESMA need to come up with a clear roadmap on the implementation work and especially for setting up the IT-systems. Naturally, I expect that the European Parliament will be informed regularly and comprehensively about any progress in the implementation work.”