MiFID II Regime Unveiled
October 20, 2011
The European Commission has published its proposals for the MiFID II regime in the form of a new regulation and a revised directive.
Highlights of the proposed legislation include:
- extension of the scope of products and activities governed by the rules;
- introduction of position management and position limits;
- greater pre and post trade transparency requirements; and
- additional transaction reporting requirements.
The bulk of the rules are expected to be implemented two years after their publication in the Official Journal; however, some provisions of the new regulation will take effect immediately upon publication.