Draft report on the proposal for a Regulation on Markets in Financial Instruments, on Market Abuse and on Improving Securities Settlement

16 February 2016

Acknowledging the problems at hand, delaying the date of application by a year to 3 January 2018 as well as some corresponding dates also by a year seems to be sensible and justified.

Due to the failure of European Securities and Markets Authority  and the European Commission to deliver the regulatory technical standards and delegated acts by the deadline set out in the legislation and to launch the necessary procurement procedures in time, MiFID II/ MiFIR will not be applicable as initially scheduled on 3 January 2017.

This change to the MiFID II/ MiFIR package is of a purely technical nature and should therefore change nothing beyond the relevant dates. Therefore, the rapporteur recommends accepting the proposal of the European Commission to amend MiFIR as it stands.

Full Draft report

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