Financial Market Amendment Approved without MiFID II

An enactment into German law of the Financial Market Directive MiFID II has been postponed until a later date.

In total, four European bills are being enacted into national law: the Market Abuse Directive (MAD) and its corresponding regulation (MAR), the EU directive regarding central securities deposits (CSD-VO) and the EU directive concerning basic fact sheets for packaged investment products for small investors and insurance investment products (PRIIP-VO).

The Markets in Financial Instruments Directive (MiFID II) is not among those enacted. The Federal Ministry of Finance issued a press release with the following statement: “Since, according to plans of the European Commission, the applicability of the revised Markets in Financial Instruments Directive MiFID II and the Financial Market Ordinance is to be postponed one year, from January 3rd, 2017 to January 3rd, 2018 , the originally uniformly conceived Financial Market Amendment is to be divided.“ This means that the enactment of MiFID II into German law will be dealt with at a later date, in the scope of a second Financial Market Amendment.

Previous news News overview Next News