Today the FCA published in final version the new rules that will apply to firms from 3 January 2018 as a result of MiFID II.
However, this is not the final instalment expected. The FCA has issued a surprise 6th consultation paper, CP17/19, which will be relevant to firms using prospectuses or exchanges (RIE’s OTFs, MTFs), and we will have to wait until November before that is finalised.
In terms of what is finalised, the policy statement, PS17/1, details most of the consumer-facing rules, providing answers to outstanding questions on operational rules such as:
With over 900 pages of rules, on top of the policy statement itself, there is a lot for firms to take in.
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