MEP Ferber said delay could happen if the Commission finalises rules swiftly
Greater clarity and a final decision over
a potential delay to the implementation of Mifid II are
required, lawyers have warned, after the European Parliament
last week said it was ready to accept a delay to the
introduction of the far-reaching reforms.
Partner at law firm Vedder Price, Sam
Tyfield told FOW on Monday: "It looks like a full delay is now
on the cards, rather than a segment-by-segment approach. While
frustrating to have the goal-posts change; the market is in no
real better position than it was three weeks ago.
"If the systems are set to take that long
to be built and the market needs regulatory guidance in order
to build them, the 'delay’ is considered by the EC
as containing only a small margin of error for the time it will
take to build the systems from release of the regulatory
guidance," he added.
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