(Hedge Fund Law Report) The Markets in Financial Instruments Directive recast under the new directive (MiFID II) and related regulations (MiFIR) are currently scheduled to take effect in January 2017, and hedge fund managers trading in Europe will need to be prepared for the accompanying significant changes to the environment.
However, the European Securities and Markets Authority (ESMA) recently concluded that a number of “technically complex elements envisaged in MiFID will not be operational by the time that MiFID II will become applicable.”
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