FCA chairman: MiFID II delay would give more realistic timeframe

FCA chairman John Griffith-Jones has said a delay to MiFID II implementation is "not ideal" but a year-long reprieve would provide a more achievable timeframe for firms.

Speaking at the Wealth Management Association summit in London, Griffith-Jones (pictured) addressed the FCA's progress and the impact of regulation on UK firms. In particular, he discussed MiFID II, which is scheduled for implementation in January 2017, but could be delayed by a year following pressure from stakeholders and regulators, who feel the current timeline is "unfeasible". There has already been criticism of the lack of clarity at this late stage on areas like the unbundling of dealing commissions. Griffith-Jones said: "The MiFID II delay is realistic but not ideal. There ...