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Commission publishes legislative proposal for MiFID II delay

The European Commission have today published this press release together with a legislative proposal for the delay of the application of MiFID II by one year to January 2018. The legislative documents can be found here and here. The news follows a few weeks of discussion about the delay, with some speculation that it would be delayed further.

The documents do not delay the transposition deadline for member states of the legislation, which had been requested to be delayed as well. This will disappoint some as reported on this article on the Bloomberg web site. Since both the delegated acts and approval of Regulatory Technical Standards (RTS) have not been finalised, there is still the possibility that a delay in these items will again cause issues, as highlighted on this post on the Fidessa web site.

The energy and commodity trading sector also await the finalisation of RTS 20 and 21, regarding the Ancillary Activity test and position limits. It is hoped that these will be fixed soon.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.


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