Most of the obligations contained in the Markets in Financial Instruments Directive (MiFID II) and Markets in Financial Instruments Regulation (MiFIR) were effective as of 3 January 2018.
The Directive and the Regulation, commonly referred to as the “Level 1” texts, are supported by the Regulatory and Implementing Technical Standards, “Level 2”, and Rules, Guidance and Q&A from the European Securities & Markets Authority (ESMA) and National Competent Authorities, including the UK’s Financial Conduct Authority (FCA), “Level 3”. Published versions of these can be found in the table below.
Delegated Acts, Regulatory and Implementing Technical Standards
Regulatory Technical Standards:
Implementing Technical Standards: