EU Nations Back One-Year Delay of MiFID II Market-Rule Revamp
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European Union countries agreed on their approach to pushing back the overhaul of securities market rules known as MiFID II, setting up talks with the European Parliament on a final version of the legislation.
National envoys on Thursday supported a proposal by the European Commission to push back the start date of MiFID II by one year to 2018, and instructed the Netherlands, which holds the EU’s rotating presidency, to start negotiations with the parliament as soon as possible. They also endorsed amendments to the commission’s plan, including pushing back by one year the deadline for member states to convert the EU directive into national law.