It appears increasingly likely that there will be a delay in the implementation date of the Markets in Financial Instruments Directive II and the Markets in Financial Instruments Regulation, currently scheduled for January 3, 2017. Last week two members of the European Parliament – Roberto Gualtieri and Markus Ferber – formally wrote to Jonathan Hill, Commissioner for Financial Stability, Financial Services and Capital Markets Union for the European Commission, noting they are “open to considering a wholesale delay” of the roll-out date of MiFID II and MiFIR. On November 10, 2015, Steven Maijoor, Chair of the European Securities and Markets Authority, advised the Economic and Monetary Affairs Committee of the European Parliament that the “timing for stakeholders and regulators alike to implement the rules and build the necessary IT systems is extremely tight” and that some aspects of scheduled implementation were “already unfeasible.”