Extension application date MiFID II

The date of entry into application of the MiFID II package (the revised Markets in Financial Instruments Directive, MiFID, and associated Regulation, MiFIR) is extended. National competent authorities and market participants are granted one additional year to comply with the rules set out in MiFID II. This is to take account of the exceptional technical implementation challenges faced by regulators and market participants. The extension is decided upon by the European Commission. The Council and the European Parliament must formally approve the decision. The new deadline is 3 January 2018. The date by which EU Member States have to transpose MiFID remains 3 July 2016.