The European Parliament has announced that its MiFID II negotiation team has informed the Commission that it is prepared to accept a one-year delay to the entry into force of MiFID, subject to certain conditions. The two conditions are that the Commission: (i) adopts the level 2 measures required under MiFID II as soon as possible; and (ii) reports regularly to the Parliament on the progress towards implementation, including timelines and key milestones. They suggest that there should be a meeting between the Commission and the Parliament negotiating team in December 2015 before the Commission adopts the level 2 measures.