Industry 'squeezed for time' as MiFID II hit by technical standards delay

clock • 2 min read

The European Securities and Markets Authority (ESMA) has delayed its review of standards for MiFID II until September, cutting the amount of time the industry will have to assess proposals ahead of implementation.

The final regulatory technical standards (RTS) were due to be submitted to the European Commission this July, with final guidance to be submitted in December ahead of an implementation date of January 2017. ESMA and the European Commission have now agreed to conduct an early legal review of the draft technical standards, which will delay submission until September. In a letter to ESMA, the EC's director general for internal market and services, Jonathan Faull, said the legal review would "ensure the legality and legislative quality of relevant standards". However, he added: "…This ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Wealth managers

SJP CIO Onuekwusi: Retail investors lack appropriate structure to access private markets

SJP CIO Onuekwusi: Retail investors lack appropriate structure to access private markets

Open-ended structures 'have to work'

Valeria Martinez
clock 01 December 2023 • 2 min read
M&G launches full PruFund range on Wealth platform

M&G launches full PruFund range on Wealth platform

‘Greater flexibility and wider choice’

Valeria Martinez
clock 22 May 2023 • 1 min read
Brewin Dolphin attracts record fund inflows amid strong performance

Brewin Dolphin attracts record fund inflows amid strong performance

Wealth manager drew in £4bn of capital in the year to the end of September

Pedro Gonçalves
clock 24 November 2021 • 2 min read
Trustpilot