The European Parliament will consider the European Commission’s legislative proposals to amend the MiFID II Directive and MiFIR with a view to extending by one year their date of application and certain other dates in its plenary session to be held from 6 to 9 June 2016. It will also consider the legislative proposals for MAR and the Regulation on improving securities settlement and regulating central securities depositories (CSDR) at the same session. Both Jonathan Hill and Mario Draghi, ECB President have confirmed that this extension will not have an impact on the timeline for adoption of the Level 2 implementing measures, which will proceed irrespective of the new date of entry into application of MiFID II in order to provide legal certainty for the new provisions.