The FCA has updated its MiFID review webpage by setting out further information concerning some of the key dates for implementation. Such dates include:

  • March 2015: Publication of an FCA Discussion Paper on certain conduct and organisational issues where the FCA has discretion or where there is potential read across to non-MiFID II business;
  • Summer 2015: European Commission estimate for adoption of draft delegated acts. Adoption is subject to formal scrutiny by the European Parliament and the Council (for a three-month period, which can be extended by a further three months);
  • Autumn 2015: Second FCA MiFID II annual conference, following the first conference in September 2014. The aim of the second conference will be to outline the main implementation issues and focus on helping firms to understand their new obligations and the FCA’s expectations of them;
  • December 2015: Publication of the main FCA consultation paper on its proposed Handbook changes to implement MiFID II / MiFIR;
  • June 2016: FCA feedback and policy statement confirming final changes to the Handbook in order to transpose MiFID II / MiFIR by 3 July 2016; and
  • 3 January 2017: MiFID II / MiFIR applies across the EU (subject to the limited exceptions that have longer transitional periods).

View MiFID review, 10 March 2015