Law & Disorder: US Preps Defense Against Mifid II
As Mifid II's deadline approaches, US firms affected by the rules are still waiting for regulators to resolve crucial conflicts between European and American laws, and are likely to be making adjustments well after the deadline has passed, reports Kirsten Hyde.
While the new rules, which cover virtually all aspects of trading across asset classes within the EU, will not be the rule of law in the US, they will have profound implications for its financial institutions, not least because US and EU firms are the biggest participants in each other’s markets. For instance, for US firms that have subsidiaries, investments, risk exposures or trade through European markets and venues, Mifid II will require them to engage with and report to European regulators
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