'There are still obstacles to overcome': One year on from MiFID II implementation

Legislation introduced at start of January 2018

One year on from the introduction of MiFID II, asset and wealth managers continue to struggle with much of the pan-European regulation's requirements as well as its unintended market consequences.

MiFID II, which came into force in January 2018, placed an additional raft of onerous new requirements on firms with regard to fee and performance disclosures, while placing strict restrictions on how they go about acquiring research. It was born in the wake of the financial crisis and, like other regulations that were introduced at the time, it sought to achieve greater transparency in financial markets and improve investor protection standards. Partner at law firm Dechert Richard Heffner explained the regulation has represented both a large operational challenge and monetary cost fo...