COREPER, on behalf of the EU Council, has agreed with the European Parliament to extend, by one year, the dates of transposition and application of MiFID II. Under the approach agreed with the European Parliament, the deadline for member states to transpose the MiFID II Directive into national law will be set for 3 July 2018, and the date of application of both the MiFID II Directive and MiFIR will be 3 January 2018.