Changing Landscape: The MiFID II Legislative Proposal

Law360, New York (November 9, 2011, 6:55 PM EST) -- On Oct. 20, 2011, the European Commission published its long-awaited legislative proposal to revise the Markets in Financial Instruments Directive (better known by its acronym MiFID). The proposal is divided into two parts, a directive and a regulation, both of which are expected to enter into force in 2013.

Financial institutions and users of financial services will now need to prepare to negotiate a wider regulatory perimeter, which captures previously unregulated and more weakly regulated business areas. Pre-trade and post-trade transparency will apply to a broader...
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