Following the 12 month delay to the Markets in Financial Instruments Directive (MiFID II), confirmed in February this year, we surveyed financial services firms to find out if they are taking advantage of the additional time and feeling more confident about delivering on schedule.
Their responses reveal the majority of firms already have programmes in place and that they have good business engagement. However, 40% of respondents say they are not confident they will be ready by the implementation date of 3 January 2018.
About our research
We surveyed 25 major investment banks, asset managers and private banks in the UK on the following four areas:
- How significant is MiFID II’s impact on firms’ wider strategies?
- How confident are firms feeling about the new deadline?
- How are firms structuring their programmes?
- Are firms thinking strategically about their solutions?
Time is running out for firms and they must take prompt action to avoid being left behind in the post-MiFID II market.
- Business strategy – review impact on business strategy
- Working assumptions – avoid falling into a 'wait and see' approach while awaiting final rules
- Engagement – maintain senior business engagement
- Augment – ramp up programme or project teams as final rules are released.
An industry survey into firms' readiness ahead of MiFID implementation
Download the report