MiFID II took effect on 3 January 2018 to improve the functioning of financial markets in light of the financial crisis and to strengthen investors protection. MiFID II extended the MiFID requirements in a number of areas including:
- new market structure requirements
- new and extended requirements in relation to transparency
- new rules on research and inducements
- new product governance requirements for manufacturers and distributers of MiFID products
- introduction of harmonised commodity position limits regime