The Markets in Financial Instruments Directive II (MiFID II) is a European regulation to increase transparency across financial markets and standardise the regulatory disclosures required for firms operating in the UK and EU.

MiFID II, which came into effect in January 2018, introduced a wide range of reforms and requirements with the primary objective to keep financial markets strong, fair, effective, and transparent. Post-Brexit, the MiFID regulatory framework was onshored into UK law with some adjustments to operate properly from a UK-only perspective, and PIMFA continues to support members with MiFID II-related compliance issues and transaction reporting requirements.

Ongoing, PIMFA is engaged with regulatory and government stakeholders – such as part of the December 2022 Edinburgh Reforms – to enusre any future changes to the UK transposed framework, divergence from the EU, or opportunities to reshape European legislation more broadly are proportionate and value-adding to our members and UK financial markets.