Investment Operations

MiFID II: The Impact So Far

Financial Compliance

It has been over 30 months since the European Union’s Markets in Financial Instruments Directive came into force in January 2018. The vast scope and ambition of MiFID II mean that problems in the implementation were always expected, especially in the complex and diverse landscape of European capital markets.

Nevertheless, many capital markets firms are concerned at the amount of red tape that MiFID II has introduced, especially when the benefits are not always so obvious. MiFID II: The Impact So Far, a new Aite Group report, reviews the objectives of MiFID II in light of the implementation so far.

“While continuing to pursue the original goal of transparency, European policymakers have listened to the concerns from many in the industry that proposals to further increase trade transparency in European financial markets could harm liquidity and put up barriers to participation,” explains Christian Benson, research associate at Aite Group.  

This Impact Report is based on Aite Group analysis of regulators’ and market participants’ public responses to the implementation of MiFID II, and focuses on several specific areas: changes to market structures, the consequences of the research unbundling rules, the transparency regime, and the potential for divergence in light of the U.K.’s exit from the EU.

For more information on the report, click here.

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