The UK Financial Conduct Authority is seeking input on its early views regarding how the Markets in Financial Instruments Directive II might be rolled out in the United Kingdom. Among other matters, FCA is seeking comments on whether it should ban discretionary management firms to accept commissions and other benefits; how to require adviser independence; how to apply MiFID’s II’s remuneration rules for sales staff to non-MiFID firms; and how it should amend its current rules regarding telephone conversations and electronic communications for certain stakeholders. Comments should be submitted through FCA’s website by May 26, 2015. MiFID II and the Markets in Financial Instruments Regulation are comprehensive measures that, once finally implemented, will greatly increase regulation of European financial markets by (1) requiring the trading of certain financial and commodity instruments on regulated venues “whenever appropriate;” (2) increasing obligations on certain algorithmic traders; and (3) obligating speculative traders to limit the size of their net position in commodity derivatives. MiFID II is expected to be effective in Europe as of January 3, 2017.