On 2 May 2016, political agreement on the MiFID II “Quick Fix” was reached between the European Parliament’s negotiation team on MiFID II and Member States’ representatives.
The compromise reached included a one-year delay to the date of application and the date of transposition as well as to certain aspects of the Market Abuse Regulation. In addition, a dedicated regime for the treatment of package transactions with regards to pre-trade transparency obligations was created and clarification for the own-account exemption for corporate end-users was introduced.
The final wording of the compromise still needs to be finalised in technical meetings. The agreement needs to be approved by both the European Parliament and the Council of the EU with a plenary vote in the Parliament planned for early June 2016.
View Markus Ferber press announcement (scroll down for English), 3 May 2016