On 17 June, the Council announced that it had adopted legislation amending MiFID II and the proposed new regulation amending the Markets in Financial Instruments Regulation ("MiFIR"), MAR and the Central Securities Depositories Regulation to, among other things, postpone the implementation date of the MiFID II legislative package by one year to 3 January 2018. No substantive changes have been made to the Parliament's text adopted on 7 June.

The resolutions of the European Parliament made on 7 June can be accessed here:

http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+TA+P8-TA-2016-0244+0+DOC+PDF+V0//EN

http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+TA+P8-TA-2016-0243+0+DOC+PDF+V0//EN

The press release can be accessed here:

http://www.consilium.europa.eu/press-releases-pdf/2016/6/47244642619_en.pdf

On 30 June 2016, the instruments were published in the Official Journal and are now in force.

For further information on the delay to the implementation of MiFID II, please see our client note available here:

http://www.shearman.com/~/media/Files/NewsInsights/Publications/2016/06/MiFID-II-Implementation-Delayed-to-2018-FIAFR-06212016.pdf

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