The Dutch Ministry of Finance has published a consultation paper and a first draft of the bill for the Act implementing the Markets in Financial Instruments Directive (recast) (MiFID II) (Wet implementatie richtlijn markten voor financiële instrumenten 2014, the Bill).
MiFID II will be transposed in the Netherlands in the same way MiFID was – primarily through amending the Act on the Financial Supervision (Wet op het financieel toezicht, AFS) and certain associated decrees. The primary intention of the documents is to address the technical drafting of the secondary legislation that is required to implement MiFID II and invite comment and feedback. An important part of MiFID II and the provisions contained in the Bill require further elaboration in the decrees based on the AFS, such as the Decree on Conduct of Business Supervision of Financial Undertakings (Besluit Gedragstoezicht financiële ondernemingen) and the Decree on Market Access of Financial Undertakings (Besluit Markttoegang financiële ondernemingen Wft). A draft Bill amending these decrees will be submitted for consultation at a later date.
The Bill and consultation paper can be found here. The deadline for comments on the consultation paper is 6 July 2015.