MiFID II conduct of business and investor protection requirements

The following Financial Services practice note provides comprehensive and up to date legal information covering:

  • MiFID II conduct of business and investor protection requirements
  • Background to MiFID II and UK Conduct of Business requirements
  • Structured deposits and insurance-based products
  • Conduct of business requirements for ECPs
  • Professional clients as ECPs
  • Public bodies
  • Municipalities and local authorities
  • Application to non-MiFID business
  • Client agreements
  • Information provided to clients
  • More...

MiFID II conduct of business and investor protection requirements

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime.

Background to MiFID II and UK Conduct of Business requirements

Following the financial crisis of 2008, the European Commission (Commission) implemented a review of the Markets in Financial Instruments Directive (Directive 2004/39/EC) (MiFID) with the view to improving the functioning of financial markets and to strengthening investor protection, which led to the adoption of a legislative proposal for the revision of MiFID. As a result of the review, the recast Markets in Financial Instruments Directive (Directive 2014/65/EU) (MiFID II) and the Markets in Financial Instruments Regulation (Regulation (EU) 600/2014) (MiFIR) (together the MiFID II Framework) were adopted and entered into force on 2 July 2014. The majority of MiFID II provisions took effect from 3 January 2018.

MiFID II made a number of changes to the requirements in MiFID concerning the way that firms should conduct their business. MiFID’s conduct of business requirements were predominantly implemented

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