UK:
MiFID II: FCA Consultation On MiFID II Implementation (Corporate Aspects)
13 November 2017
Shearman & Sterling LLP
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On 3 July 2017, the Financial Conduct Authority
("FCA") published a sixth consultation
paper ("CP 17/18") on its implementation
of the Markets in Financial Instruments Directive II
("MiFID II"), covering small amendments
to the FCA handbook ("FCA
Handbook").
The consultation applies, in particular, to banks, investment
firms, recognised investment exchanges
("RIEs"), multilateral trading
facilities ("MTFs"), organised trading
facilities ("OTFs") and commercial firms
trading financial and commodity derivatives.
The FCA proposes the following changes:
- to bring RIEs, operating MTFs and
OTFs into the scope of the Financial Services Compensation Scheme
cover;
- to amend the proposed Decision
Procedures and Penalties Manual and Enforcement Guide as described
in CP 17/18;
- to make technical changes to the
Prospectus Rules and Glossary.
The consultation closed on 7 September 2017. The FCA aims to
finalise the necessary rule changes by November 2017.
The full consultation paper can be accessed here:
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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