The Council of the EU has announced that the Permanent Representatives Committee (COREPER) has approved, on behalf of the Council, an agreement with the European Parliament to extend, by one year, the dates of transposition and application of the MiFID II and MiFIR. The one-year postponement of the transposition and application dates will affect the provision of services for investments in financial instruments and the operation of regulated financial markets.

Under the approach agreed with the European Parliament, the deadline for member states to transpose MiFID II into national legislation will be set for 3 July 2017, and the date of application of both MiFID II and MiFIR will be set for 3 January 2018. Additionally, amendments were agreed as concerns trading on own accounts, package transactions, alignment with the EU directive on securities financing transactions and the date of application of certain provisions of a regulation on market abuse.

View COREPER approves delay to MiFID II, 18 May 2016