The following Financial Services guidance note provides comprehensive and up to date legal information covering:
BREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further guidance, see Practice Note: The impact of Brexit on the MiFID II regime.
This Practice Note provides an overview of the pre- and post-trade transparency regime for trading venues and investment firms that is set out in the Markets in Financial Instruments Regulation (Regulation (EU) 600/2014) (MiFIR), which came into effect on 3 January 2018 together with the revised and recast Markets in Financial Instruments Directive (Directive 2014/65/EU) (MiFID II). It includes a summary of the level 1 legislation, as well as relevant level 2 rules and level 3 guidance. It also examines how the regime has been implemented in the UK, and it highlights the key changes made to the original Markets in Financial Instruments Directive (Directive 2004/39/EC) (MiFID I) transparency regime.
For more information about MiFIR and MiFID II, see Practice Notes: MiFID I, MiFID II and MiFIR—essentials and MiFID II and MiFIR—toolkit.
Following a review of MiFID I, the European Commission in 2011 proposed a revised and recast directive and a new regulation that would substantially expand the existing transparency regime for trading venues and investment firms. The final texts of MiFID
**excludes LexisPSL Practice Compliance, Practice Management and Risk and Compliance. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Take a free trial
0330 161 1234