There has been published the minutes of a MiFID II implementation roundtable held at the FCA on 6 January 2016. In particular the minutes note:
- the FCA said it expected that there will be a greater clarity on a possible delay to the date of application for the whole of MiFID II in the course of this month;
- it is unclear at this stage whether any legislative proposal from the European Commission will include substantive changes to the Level 1 text as well as changes to dates. It is not known whether the European Securities and Markets Authority’s suggestion of a change to the application of pre-trade transparency to package transactions will be picked up; and
- there is still no clarity on whether the European Commission will propose a delay to the transposition deadline, which is currently 3 July 2016, as well as the date of application.
View Minutes of the meeting of the MiFID II implementation roundtable, 8 January 2016