Due to the failure of European Securities and Markets Authority and the European Commission to deliver the regulatory technical standards and delegated acts by the deadline set out in the legislation and to launch the necessary procurement procedures in time, MiFID II/ MiFIR will not be applicable as initially scheduled on 3 January 2017.
This change to the MiFID II/ MiFIR package is of a purely technical nature and should therefore change nothing beyond the relevant dates. Therefore, the rapporteur recommends accepting the proposal of the European Commission to amend MiFIR as it stands.
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