FCA delays MiFID II policy statement following new implementation timeline

Rules out extending remuneration rules across industry

The Financial Conduct Authority has delayed the release of a policy statement on MiFID II from the first half of this year until 2017.

Rather than publishing more than one policy statement on the CP15/43 consultation paper released at the end of 2015, the regulator said in its second MiFID II consultation paper, released today, it will now release a single document next year. After the implementation of MiFID II was delayed by a year to January 2018 in order to allow more time for implementation, the FCA said it is "now working to this revised timetable for implementation". The FCA has also ruled out extending the MiFID II rules on remuneration across the industry after previously proposing the application of MiFID I...