Following the legislative proposal from the European Commission last week, highlighting the one year delay in the implementation of MiFID II, the European Parliament and Council has now also drafted their proposals, which can be found here and here.

One of the documents also proposes a delay to the deadline for the transposition of MiFID II into national law, which is currently set for July 2016 but which is proposed to be delayed until July 2017. This is to permit more time for the Delegated Acts to be finalised, the lack of which make transposition  difficult.