Starting on 3 January 2018 are both MiFIR and MiFID II. MiFIR applies in all European Union states regardless of domestic implementation. However, as a directive of the European Commission, MiFID II requires enactment into the national laws of states in the European Union (EU). To date, MiFID II has only been implemented by eleven (11) European Union member states, leaving seventeen (17) states facing infringement proceedings from the European Commission. What does implementation mean and which states have implemented MiFID II? MiFID II, which takes the form of a directive, will apply only in states which have ... (full story)