Understanding MiFID II- The European Union’s Comprehensive Financial Regulation
In the wake of the global financial crisis of 2008, which exposed significant vulnerabilities in financial regulatory frameworks worldwide, the European Union (EU) enacted the Markets in Financial Instruments Directive II, or MiFID II. Implemented on January 3, 2018, this legislation aims to enhance investor protection and improve the transparency and efficiency of EU financial markets. MiFID II is a comprehensive set of rules affecting almost every aspect of the financial services industry, ranging from investment firms to trading venues and beyond....