The Markets in Financial Instruments Directive II is a legislative framework of the European Union that regulates financial markets and strengthens protections for investors trading in stocks, bonds, currencies, and derivatives. It took effect in January 2018, replacing the original Markets in Financial Instruments Directive of 2004, and expanded transparency, reporting, and conduct requirements for investment firms and trading venues across the European Economic Area. MiFID II also introduced stricter rules on algorithmic and high frequency trading and on separating research costs from trading commissions.
Facts
EraSourced to the subject's own accountAdopted 2014 as Directive 2014/65/EU, repealing the original MiFID Directive 2004/39/EC. 1 Promulgated BySourced to the subject's own accountEuropean Union (European Parliament and Council). 1 Jurisdiction ScopeSourced to the subject's own accountEuropean Economic Area: EU member states plus Iceland, Norway and Liechtenstein. 1 Regulatory DomainSourced to the subject's own accountSecurities markets, investment intermediaries and trading venues. 1 Classification
Legal StatusSourced to the subject's own account Jurisdiction Scope
Jurisdiction Scope (category) Era
Era (category)Sourced to the subject's own account21st Century (2000-Present) 1 Connections
Associated With
EMIR and MiFID II are commonly grouped as pillars of the EU post-2008 financial-crisis regulatory reform package alongside Solvency II
MiFID II's market-structure and transparency requirements are the European Union counterpart regularly compared with United States Regulation NMS in comparative securities-market regulation.
In Legal System
European Union directive, applied across member states whose domestic systems are predominantly civil law.
Source Major Legal Systems in the World TodayRene David and John E.C. Brierley
Sources
1. Markets in Financial Instruments Directive 2014 (Wikipedia)
WikipediaLead paragraph (era)
Markets in Financial Instruments Directive 2014 is a directive of the European Union (EU). Together with Regulation No 600/2014 it provides a legal framework for securities markets, investment intermediaries, in addition to trading venues. The directive provides harmonised regulation for investment services of the member states of the European Economic Area, the EU member states plus Iceland, Norway and Liechtenstein. Its main objectives are to increase competition and investor protection, as well as level the playing field for market participants in investment services. It repeals Directive 2004/39/EC.
Lead paragraph (promulgated-by)
Markets in Financial Instruments Directive 2014 is a directive of the European Union (EU). Together with Regulation No 600/2014 it provides a legal framework for securities markets, investment intermediaries, in addition to trading venues. The directive provides harmonised regulation for investment services of the member states of the European Economic Area, the EU member states plus Iceland, Norway and Liechtenstein. Its main objectives are to increase competition and investor protection, as well as level the playing field for market participants in investment services. It repeals Directive 2004/39/EC.
Lead paragraph (jurisdiction-scope)
Markets in Financial Instruments Directive 2014 is a directive of the European Union (EU). Together with Regulation No 600/2014 it provides a legal framework for securities markets, investment intermediaries, in addition to trading venues. The directive provides harmonised regulation for investment services of the member states of the European Economic Area, the EU member states plus Iceland, Norway and Liechtenstein. Its main objectives are to increase competition and investor protection, as well as level the playing field for market participants in investment services. It repeals Directive 2004/39/EC.
Lead paragraph (regulatory-domain)
Markets in Financial Instruments Directive 2014 is a directive of the European Union (EU). Together with Regulation No 600/2014 it provides a legal framework for securities markets, investment intermediaries, in addition to trading venues. The directive provides harmonised regulation for investment services of the member states of the European Economic Area, the EU member states plus Iceland, Norway and Liechtenstein. Its main objectives are to increase competition and investor protection, as well as level the playing field for market participants in investment services. It repeals Directive 2004/39/EC.
In Group: European and International Financial Regulation, Introduction, sentence 1
Markets in Financial Instruments Directive 2014 (2014/65/EU, commonly known as MiFID 2) is a directive of the European Union (EU).
View the Source 2. EUR-Lex (Publications Office of the European Union): Directive 2014/65/EU (MiFID II)
EUR-Lex (Publications Office of the European Union)Article 97, AddresseesQuote, Article 97, Addressees
This Directive is addressed to the Member States.
Major Legal Systems in the World Today
Rene David and John E.C. Brierley, Stevens and Sons, 1985In Legal System: Civil Law
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