The Presidency of the Council of the EU published:

  • A compromise proposal dated 3 December 2012, on the proposed MiFID II Directive.
  • A compromise proposal dated 3 December 2012, on the proposed Markets in Financial Instruments Regulation (MiFIR) and amending EMIR.

The updated EU Parliament procedure files indicate that the EU Parliament will consider the MiFID II legislative proposals in its plenary session on 24/ 25 October 2013.

ESMA published supervisory briefings in respect of MiFID concerning Suitability and Appropriateness and execution only. The supervisory briefings are designed for supervisors as an accessible introduction to the MiFID suitability rules, and as a useful starting point when deciding on areas of supervisory focus. It summarises the key elements of the rules and explains the associated objectives and outcomes. It also includes indicative questions that supervisors could ask themselves, or a firm, when assessing firms’ approaches to the application of the MiFID rules.