MiFID II delay until 2018 might not be enough, warns ESMA

Confirmation expected in 'next few weeks'

A 12-month delay to the introduction of MiFID II may still not give asset managers enough time to adapt to the directive's requirements, the chair of the EU's top securities regulator has warned.

According to Reuters, Steven Maijoor (pictured), chair of the European Securities and Markets Authority (ESMA), said he expects the European Commission to confirm a heavily-anticipated delay of the Markets in Financial Instruments Directive II to January 2018 "in the next few weeks". However, he said a year-long delay may not provide sufficient time for asset managers to prepare if the European Parliament, Commission and Council do not confirm the details of the directive's technical standards. Trade bodies in the UK have previously warned that their members are holding off their prep...