MiFID II on Pause? Vendors React
The European Commission announced today that it has accepted the need to push back the MiFID II January 3, 2017, start date due to tech concerns.
In a victory for industry lobbyists, the European Union (EU) is set to delay the introduction of MiFID II legislation by as much as a year.
Steven Maijoor, chairman of the European Securities and Markets Authority (ESMA), said in a statement directed at the European Parliament, that IT concerns and other rule implementations will make it impossible to meet the Jan. 3, 2017, deadline.
"I am not going to surprise anybody in the room when saying that the timing for stakeholders and regulators alike
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