Industry welcomes 'pragmatic' FCA approach on MiFID II but 'no excuse for further delays'

Published earlier this month

Regulatory experts have said the Financial Conduct Authority (FCA) has shown "a more flexible side" following the release of its final Policy Statement on the implementation of MiFID II for UK firms, confirming requirements for inducements and investment research, taping, and the status of investment trusts.

The details of the final rules were welcomed by many industry participants, as the regulator opted not to "gold plate" some requirements, as has been seen in other EU countries, although it did extend the scope of the Europe-wide legislation in certain areas.  FCA unveils final rules for MiFID II implementation; Confirms trusts status; DFMs subject to taping rules Decisions that will have a calming influence on the industry, as the 3 January 2018 implementation deadline approaches, include confirmation firms will not be required to have a single Research Payment Account (RPA) for each...