European Commission said on Wednesday a delay to Mifid II is needed
The European Parliament has Friday thrown
its weight behind calls for a delay to the implementation of
the Mifid II rules, as a leading MEP called for swift
implementation of the rules to take priority.
According to a statement Friday, the
parliament’s negotiation team has informed the
European Commission that it is ready to accept a "one-year
delay of the entry into force of Mifid II."
However, the European
Parliament’s Rapporteur for Mifid II, Markus
Ferber, MEP, said: "This only applies if the Commission
finalises the implementing legislation swiftly and thereby
takes into account the European Parliament’s
"Furthermore, Commission and Esma need to
come up with a clear road-map on the implementation work and
especially for setting up the IT systems," he added.
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