On 20 October 2025, the draft Implementation Act regarding the review MiFID II and MiFIR (Implementatiewet herziening richtlijn markten voor financiële instrumenten 2014, the Draft Implementation Act) was published for public consultation.
The Draft Implementation Act transposes the amended Markets in Financial Instruments Directive (MiFID II) into the Act
The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) makes use of its product intervention powers under the European Markets in Financial Instruments Regulation (MiFIR): Under a general administrative act (Allgemeinverfügung) dated 30 September 2022 (link to English convenience translation), BaFin prohibited the marketing, distribution and sale of
Last week Consob, the Italian financial services regulator, took a further step in implementing MiFID II, by launching a public consultation in relation to the implementation of MiFID II regime for third-country firms.
This consultation focuses on proposed amendments to second-level regulatory measures, in particular in respect of requirements and procedures for access to the