An update on MiFID II / MIFIR

On the 23rd of April 2014, the European Parliament adopted updated rules for MiFID II. The Directive and the Regulation are expected to enter into force in June 2014.

The new rules will be set as two pieces of legislation:

  1. directly applicable regulation (MiFIR) dealing inter alia with transparency and access to trading venues –
  2. a directive (MiFID II) governing authorisation and organisation of trading venues and investor protection.

The Directive (MiFID II) amends specific requirements regarding the provision of investment services, the scope of exemptions from the current Directive (MiFID I), requirements for investment firms on their organisation and the conduct of their business, organisational requirements for trading venues, powers available to competent authorities, sanctions and rules applicable for third party firms.

The Regulation (MiFIR) sets out requirements in relation to the disclosure of trade transparency data to the public and transaction data to competent authorities, the authorisation and ongoing obligations applicable to providers of data services, the mandatory trading of derivatives on organised venues, and specific supervisory actions regarding financial instruments and positions in derivatives.

The new rules will apply to investment firms; market operators and services providing post-trade transparency information in the EU.

For further information about how GVZH Advocates can help you with your Financial Services requirements kindly contact us here.

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Key Contacts

Andrew J Zammit | Managing Partner | GVZH Advocates

Andrew J. Zammit

Kurt Hyzler | GVZH Advocates | Malta Law Firm

Kurt Hyzler

Luca Vella | GVZH Advocates

Luca Vella

Jeanelle Cachia | GVZH Advocates | Malta Law Firm

Jeanelle Cachia

Katia Cachia | GVZH Advocates | Top Tier Law Firm Malta

Katia Cachia

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Danica Decesare

Francesca Anastasi - GVZH Advocates - Malta Law Firm

Francesca Anastasi

Gianluca Vella - GVZH Advocates - Malta Law Firm

Gianluca Falzon

Nicola Fenech Conti - GVZH Advocates - Malta Law Firm

Nicola Fenech Conti

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