UK MiFID II

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This Overview provides a guide to the Financial Services content within the UK Markets in Financial Instruments Directive II (UK MiFID II) subtopic with links to the appropriate materials.

What is the UK MiFID II regime?

The UK MiFID II regime is a body of law and regulation derived from Directive 2014/65/EU (MiFID II), and including EU measures which had direct effect in the UK, formed part of UK assimilated law upon the UK’s withdrawal from the EU, and are subject to revocation under the Financial Services and Markets Act 2023 (FSMA 2023). Measures forming part of UK assimilated law include Assimilated Regulation (EU) 600/2014 (UK MiFIR).

For high-level information on the key elements of the UK MiFID II regime, see Practice Note: UK MiFID II—essentials.

Activities and firms which the UK MiFID II regime applies to

Investment services and activities, and ancillary services

The UK MiFID II regime applies to investment services and activities and, where relevant, ancillary services (referred to in the Financial Conduct Authority (FCA) Handbook as ‘MiFID business’) carried on by a person whose regular occupation or business is

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