Why should banks and brokerage houses start focusing on the MiFID II Directive now?

The works of a bank on iFID2/MiFIR – a new set of EU regulations the purpose of which is to ensure protection for investors, corporate governance, and market transparency – must be accelerated even now. As regards MiFID1, the reporting of events concerning securities and derivative transactions to a regulator shall take place in a new way and shall include, among other things, providing information, which has not been collected so far, with characteristics that are different from those in EMIR.