MiFID II - To protect and to serve, but at what cost?
While the primary objectives of the initial Markets in Financial Instruments Directive (MiFID) were to increase the competition, improve investor protection and allow EU passporting, the MiFID II package now introduces a range of measures aimed at addressing the consequences of MiFID I and issues raised by the financial crisis, such as making financial markets more efficient, resilient and transparent, improving investor protection, as well as addressing commitments made by the G20 in Pittsburgh (2009) on these topics. There is a need for modernization, as technological advancements and the changing complexity of financial markets have outpaced the provisions of the original directive.
After intense discussions, the new MiFID II package was adopted by the European Parliament (EP) on 15 April 2014. By the end of 2016, all 28 EU Member States will be on the same playing field.
Inside magazine issue 9, June 2015
Inside is Deloitte’s quarterly magazine offering an exclusive insight into best practices, trends and opportunities faced by our clients across all industries.
Inside focuses on the main hot topics relevant for the market (Asset management, Banking, Insurance, Public sector, Healthcare, Private equity, Real estate, TMT, Manufacturing and consumer business, Transport and logistics).