In May 15 th , 2014 the European Directive for Financial Markets 2014/65/EU (“MiFID II”) and the European Regulation for Financial Markets 600/2014 (“MiFIR”) (and MiFID II), aimed, among other things, in further investor protection.

MiFID II broadens the area of application of MiFID I in additional financial instruments and trading places, and extends in activities/markets not regulated by MiFID I, in order to strengthen transparency and investor protection.

What changes!

The new financial services system was put in full effect on January 3 rd , 2018, with the application of the provisions of Regulation (EU) 600/2014 (MiFIR) and Directive 2014/65/EU (MiFID II), and the related Regulations which supplement the two laws.

The new framework includes important differences with regard to MiFID I, mainly relating to the breadth of financial instruments which are covered in the pre-transactional and post-transactional transparency obligations, in the market structure, the strengthening of transaction transparency and investor protection.

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