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MiFID 2 implementation: are we nearly there yet?


At long last, it feels as if the end is in sight. July 3, the date by which national regulators needed to have in place all necessary measures to transpose the MiFID 2 package into their domestic laws, has passed, and the gradually increasing drip-feed of final legislation and rules from the UK regulators included a deluge of over 1,000 pages of feedback and rules from FCA on most of the key changes to its rulebook.

There are still a few outstanding pieces of tidying up, but the jigsaw pieces have at least now almost all been shaped, and many put together. In terms of the UK regulatory package, there are three legislative measures, and significant PRA and, to a far greater extent, FCA, rule amendments. This article examines them in detail.