MiFID II Scope
What is MiFIDII?
What instruments does it cover?
What activities does it cover?
Is MiFIDII extra-territorial?
What is changing
MiFIDII is European legislation, comprising both a Directive (MiFID) and a Regulation (MiFIR), covering the provision of investment and ancillary services in financial instruments. It is an update of MiFIDI (2007) and attempts to promote a more transparent and accountable financial market, following lessons learned over the past decade. The scope of it is vast, as shown in the infographic below.
MiFIDII is designed to cover the provision of services to those in the EU, and is not intended to be extra-territorial. However, the breadth and complexity of it means an unintended consequence is that some elements do reach beyond European borders – particularly where is comes to payments for research and third country trading.
Explore our articles on the main topics surrounding MiFID II, for a deeper insight into our approach to the new legislation.