Minister Donohoe signs MIFID II Regulations
The European Union (Markets in Financial Instruments) Regulations were signed by the Minister on 10th August 2017. This fulfils Ireland’s requirement to transpose the second Markets in Financial Instruments Directive, or “MIFID II” into national law.
The Minister for Finance and Public Expenditure & Reform, Mr Paschal Donohoe T.D., welcomed the transposition of MiFID II into national law. The Minister said: “The Markets in Financial Instruments Directive is a cornerstone of the EU’s regulation of financial markets and its transposition into national law will strengthen the regulatory framework for the investment services sector in Ireland”.
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Note for Editors
The Markets in Financial Instruments Directive (Directive 2014/65/EU), along with its accompanying Regulation (Regulation 600/2014/EU), collectively known as “MiFID II”, establishes requirements in respect of the provision of investment services in the EU. MiFID II aims to make financial markets more efficient, resilient and transparent and to strengthen investor protection. It will enter into application on 3 January 2018.