Introduction to MiFID II
MiFID II came into force on 3 January 2018 and standardised financial services legislation, which includes the trading of securities and brings transparency for investor protection rules across all members of the European Economic Area. For the UK market, some of the aspects covered in MiFID II will be familiar to UK Advisers from the Retail Distribution Review. However, there are elements that bring direct change and impact Adviser firms, platforms and providers.
In short, MiFID II is intended to increase competition and create a more transparent financial system that reduces the risk of market abuse and increases the efficiency of financial markets. Here at Novia, our focus is both to comply with these new regulations, whilst helping you to understand how MiFID II will affect your firm and your clients.