The Markets in Financial Instruments Directive (MiFiD II) introduces some important changes to financial services regulation in the UK. In a notice issued recently, the FCA encourages firms carrying out activities covered by MiFID II within the country to submit applications for MiFID II authorization by 3 July 2017. (https://www.forexbrokerz.com/news/FCA-urges-UK-brokers-to-file-for-MiFID-II-authorization)
The UK financial regulator reminds that MiFiD II will come into effect on January 3. 2018, and if investment firms continue to provide services covered by it in the country without the required permissions, they may face civil, regulatory and/or criminal consequences.
Why are they in such a hurry to implement this if the UK will be exiting the EU anyway?
The UK financial regulator reminds that MiFiD II will come into effect on January 3. 2018, and if investment firms continue to provide services covered by it in the country without the required permissions, they may face civil, regulatory and/or criminal consequences.
Why are they in such a hurry to implement this if the UK will be exiting the EU anyway?