Mifid II was delayed in February by a year due to the tech requirements
The lack of clarity around some of the
technical requirements under impending regulatory game-changer
Mifid II is causing internal challenges for banks, market
experts have warned, as the lack of clarity on data definitions
remains a key stumbling block.
"Preparing for Mifid II continues to be a
challenge – that is true for the majority of firms
today. There are still many unknowns, for example the complete
definition of financial instruments is still outstanding," said
Bill Stenning, managing director for clearing, regulatory and
strategic affairs at Societe Generale.
"The fundamental data details are still to
be defined, and this is vital to enable successful
implementation," added the SocGen MD.
The technical requirements under Mifid II
have been a key focus area for firms working to prepare for the
new rules, after the European Commission in February delayed the introduction of the rules
to January 2018 to "account of the exceptional technical
implementation challenges faced by regulators and market
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.