Europe plans to implement the controversial Mifid II rules in early 2018
The European Commission could look to move
the date for the introduction of the controversial Mifid II
reforms to avoid a clash with the UK’s Brexit
negotiations or reflect the fact that British demands are no
relevant, lawyers have suggested.
The Mifid II rules are due to take effect
across the European Union in January 2018 but Brexit has
prompted speculation from London-based lawyers the date could
be brought forward or even moved back.
"I don’t see the EU extending
the date, they have no incentive to do that. It would only
benefit UK firms who are leaving anyway. I don’t,
however, see Mifid as a major obstacle and, if anything, they
might look to get this off the table sooner," said one senior
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