Regulators Give Fresh Sign They’ll Go Easy On MiFID Rules
With the European Commission’s recent announcement that the implementation of the Markets in Financial Instruments Directive (MiFID II) and new Markets in Financial Investment Regulation (MiFIR) is being delayed by 12 months to 3 January 2018, it is tempting for many firms to down their tools and lose momentum. The reason being GDP figures show the past to present, whereas investors value stocks for its current value and also its returns to be made in the future. Therefore, equities tend to be forward looking. Nonetheless, it does not signify that economic performance does not have an impact on investments. A healthy economy is still a requirement for companies to do well. We need to consider the future performance of the economy as well.
A survey commissioned by Calastone found that nearly a quarter of respondents were aware of Mifid II and its impact. The survey also found that more than half were also aware of Mifid II but were either concentrating on other legislation or trying to assess it Mifid II in conjunction with other legislation.” The delay in publicising the final details around Mifid II has clearly led to some fund managers sitting on the side-lines as they await further clarification on the Directive’s minutiae details. Fourteen per-cent told the Calastone study they were waiting for final details on Mifid II.
Commenting on his appointment, Jeremy remarked I had been aware of Platform One for a few years, so when the Operations Manager role arose it was too good an opportunity to miss and I didn’t hesitate in accepting the position. My aim is to add my knowledge and experience to Platform One’s already established and high caliber client services team and I hope that I shall also be able to bring some fresh ideas to its operation. I am therefore delighted to be joining the Platform One family”.
As of 1 January 2014, BIPRU was formally replaced by the EU’s so-called Capital Requirements Regulations (CRR), which establish a new regulatory code for credit and investment businesses. The UK’s Prudential Regulatory Authority implemented the CRR straightaway, while the Financial Conduct Authority introduced a new Prudential sourcebook for investment firms, called the IFPRU (Investment Firms’ Prudential sourcebook).
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