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MiFID II Delegated Acts Published in the Official Journal

On March 31, 28 delegated regulations (Delegated Regulations) supplementing the revised Market in Financial Instruments Directive (MiFID II)and Market in Financial Instruments Directive Regulation (MiFIR) were published in the Official Journal of the European Union (OJ).

The Delegated Regulations will become effective 20 days after their publication in the OJ (that is, April 20), and the majority will apply from January 3, 2018.

The text of Commission Delegated Directive (EU) 2017/593, which supplements MiFID II, with regard to safeguarding of financial instruments and funds belonging to clients, product governance obligations and the rules applicable to the provision or reception of fees, commissions or any monetary or non-monetary benefits has also been published in the OJ. Member states are required to adopt and publish, by July 3, at the latest, their national laws, regulations and administrative provisions necessary to comply with this Directive, and apply those provisions from January 3, 2018.

A full list of the Delegated Regulations published in the OJ and Directive can be found here and here.

©2017 Katten Muchin Rosenman LLP


About this Author

Neil Robson, private equity fund managers counselor, Katten Law Firm, London

Neil Robson, a regulatory and compliance partner with Katten Muchin Rosenman LLP, focuses his practice on counseling hedge and private equity fund managers and other investment advisers on operational, regulatory and compliance issues. He regularly addresses Financial Conduct Authority (FCA) and EU authorization and compliance under both the EU Alternative Investment Fund Managers Directive (AIFM Directive) and MiFID, cross-border issues in the financial services sector, market abuse, anti-money laundering and regulatory capital requirements, formations and buyouts of...