Despite almost two years until it’s available for implementation, EU market players should resist temptation to wait, and start learning about the new MiFID II and MiFIR,as soon as possible, notes a report from PwC.
PwC in its October 2014 report titled: “MiFID II and MiFIR – A new regime and a game changer for the financial services industry” notes many details are still not in place, but still market players should gear themselves up to understand the impact of the new regulations on their business.
MiFID II / MiFIR – Thicker layer of regulation
Under Markets in Financial Instruments Directive (MiFID), firms are already subject to a number of requirements including requirement to manage down operational risks within their own firms.
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