More Than Half the EU Is Still Racing to Comply With MiFID Rules
- Spain, Netherlands are among states yet to transpose directive
- Confusion has led to calls for lenient stance by regulators
How MiFID II Is Going to Change Banking
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More than half of the European Union’s 28 countries are still scrambling to put MiFID II financial-market rules on their books, adding to industry confusion as firms race to comply with the new requirements before the Jan. 3 start date.
In seventeen countries, including Spain, the Netherlands and Portugal, policy makers are still working to convert the revised Markets in Financial Instruments Directive into national law or regulations, according to the European Commission and reporting by Bloomberg. That matters because until it’s on a country’s books, the directive doesn’t directly apply to companies or individuals there.