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FCA to publish Mifid II review findings

The regulator's conclusions could be announced within the next two weeks.

The UK’s Financial Conduct Authority (FCA) is hoping to publish the long-awaited conclusions of its review into the implementation of the EU’s Markets in Financial Instruments Directive (Mifid II) requirements within the next two weeks, Euromoney understands.

The results will come just weeks after the first anniversary of the regulation, which was January 3.

The FCA announced its intention to conduct a review into Mifid II at its annual asset management conference in June 2018, and expected it to take about six months.

An FCA spokesperson would not comment on the timing of the publication of the regulator’s conclusions, but said in a statement: “We have conducted a substantial amount of work in this area, including to understand and clarify our requirements and how effectively they have been implemented. Where necessary, we have already sought improvements.”

The expectation among consultants is that the review will lead to revisions to the supervisory regime, although these could take some time to be put in place.

Inducements regime

The review was designed to address how firms on the buy and sell side were applying the inducements regime of Mifid II into the provision and consumption of research.

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