Talk:Markets in Financial Instruments Directive 2014

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Change 'European Council' with 'Council of the European Union'[edit]

Please correct and change 'European Council' with 'Council of the European Union'. This is a common and naive mistake but quite confusing. Read the directive for having the verification: http://europa.eu.int/eur-lex/pri/en/oj/dat/2004/l_145/l_14520040430en00010044.pdf#search=%222004%2F39%2FEC%22

Just go ahead and make the change yourself. No need to ask for permission. JanCeuleers 19:23, 10 October 2006 (UTC)[reply]

External links[edit]

I did a first-pass cleanup of the external links per WP:EL and WP:SPAM. I realize that this article documents a current and ongoing event, so I left a few links of the higher-quality links that might otherwise be removed. --Ronz 16:56, 8 March 2007 (UTC)[reply]

As a poor old punter who is being asked to divulge personal information I just want to know if my personal information is going to be passed on to the U.S. Thought Police. bmcluer —Preceding unsigned comment added by Bmcluer (talk • contribs) 14:44, 9 October 2007 (UTC)[reply]

Unclear[edit]

In the current state of the article, I find one assertion rather unclear: in Scope of MiFID, paragraph 3 states : "MiFID covers almost all tradable financial products with the exception of certain foreign exchange trades. This includes commodity (...) derivatives...". Does "This includes" refers to "covers" (i.e. commo derivatives are included) or to "the exception" (they are not included). As far as I understood, commodity derivatives were not included, but... Thanks to the specialist(s) who will bring an clear answer. -- Fourvin-en (talk) 17:12, 16 November 2007 (UTC)[reply]

The first one. Commodity derivatives are included (unless they must be physically settled). Stifle (talk) 14:38, 20 May 2009 (UTC)[reply]

In need of a re-write[edit]

This page is quite small for something which is a huge topic. I was going to have a go at establishing a "trading venue" section, covering MTFs and SIs, and discussing OTC trading; plus some of the discussion arond crossing venues. Any suggestions on other matters to include? --Hangthebanker (talk) 23:31, 4 January 2011 (UTC)[reply]

Contradictory information[edit]

This article states:

"If a firm performs investment services and activities, it is subject to MiFID in respect both of these and also of ancillary services"

And, seemly contradictorily it states:

"That part of a firm's business that is not covered by the above is not subject to MiFID"

Well which is it? If a firm does perform investment services, are the [ancillary services / parts not covered] subject to MiFID or not?

Or, if there is a difference between ancillary services and other services, what is the difference? FreeFlow99 (talk) 08:55, 2 April 2013 (UTC)[reply]

Proposed updates for intro and new Background section[edit]

Hi there! I'm looking to find some editors to help me make some changes to improve this article. I'm looking to discuss changes here rather than making the edits myself as I have a conflict of interest since I've put together proposed updates for this article on behalf of the Managed Funds Association, as a paid consultant.

As you might be aware, there are a couple of issues in the current article, including:

  • Most of the information is outdated, and needs to be cited to sources published in the last several years.
  • There isn't any information on MiFID II and the changes made between directives

To address these concerns and to expand on some areas of MiFID's development, I've put together new draft sections for the article. Since this is a lot to tackle in one go, I'd like to start by proposing some updates to the introduction and the addition of a new Background and history section. The draft version for these two sections is in my user space, where I have shown all new text / substantially edited text in green:

For the introduction:

  • Currently the introduction goes into a lot of detail about the procedures followed in the introduction and implementation of this directive, I've moved these details into the Background and history section, leaving the introduction to focus on the key details specific to this directive
  • I have also made a few copy edits to clarify the information in the introduction
  • Finally, I have added a new paragraph to the end of the introduction noting the approval of MiFID II

For the new Background and history, my aim was to add a section that provides the context to the introduction of the directive and describes the process by which it was approved and implemented. While the section is entirely new, it does include existing information from the current article's introduction regarding the Lamfalussy procedure and implementation measures, with sourcing to support the details.

Just to reiterate, while drafting up proposed changes to the article, my client at the Managed Funds Association has provided input and their lawyers reviewed drafts to help with the technical details, but I worked to keep these suggested updates to the article objective and neutral. Can anyone take a look at these drafts and offer any feedback? I'm up for discussion and welcome any input from editors. I'm hoping that someone will be able to make the proposed changes in the live article, if they look appropriate. Thanks, 16912 Rhiannon (Talk · COI) 21:54, 18 August 2015 (UTC)[reply]

 Partly done I have added the new history section, but I didn't implement the lead changes: the lead looks like it has changed significantly since this edit was requested, to the point where the suggested additions would be redundant. If you think the lead still needs fixing, feel free to make another request. Sorry this took such a long time, there's quite a backlog. —  crh 23  (Talk) 08:05, 13 May 2016 (UTC)[reply]
Thanks Crh23, this is great! There's just one part of the introduction that I'd still recommend be added, so I'll add a new request below. Although I'm no longer working with the MFA, I feel that my COI remains, since I was paid while I was preparing this material, so I won't add it myself. 16912 Rhiannon (Talk · COI) 13:58, 13 May 2016 (UTC)[reply]
And just as a quick follow-up: since the article has been significantly updated, what do you think about removing the "outdated" tag on the page? 16912 Rhiannon (Talk · COI) 14:13, 13 May 2016 (UTC)[reply]
 Done —  crh 23  (Talk) 14:21, 13 May 2016 (UTC)[reply]

MiFID II update needed[edit]

MiFID II is coming, and the regulations are supposed to be released on January 3, 2016.[1]. A major update should be made once those are out. John Nagle (talk) 21:42, 20 December 2015 (UTC)[reply]

Hi John Nagle, a while back I worked on a new draft for that section on behalf of the Managed Funds Association (see disclosure above). Although I'm no longer working with them, I hope that the draft can be some use in expanding and updating the information about MiFID II. At the least, the sources can provide a starting point, as I know how dense these financial topics are to work on and how tricky it is to find good, clear sourcing. Thanks, 16912 Rhiannon (Talk · COI) 14:43, 5 January 2016 (UTC)[reply]
Another delay on MiFID II: [2]. John Nagle (talk) 19:45, 5 January 2016 (UTC)[reply]

External links modified[edit]

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Small update for introduction[edit]

Hi there! Previously, I have made some suggestions for updating this article on behalf of the Managed Funds Association. Although I am no longer working with the MFA, I want to suggest one final update from the language prepared while I was under that contract. As you can see above, Crh23 implemented part of the draft I proposed for the article's history but declined to make the additions to the lede, since that had changed so much since my request was originally posted. Reviewing the current lede, I have one suggestion for an update, based on the changes I proposed previously—the addition of a final paragraph summarizing MiFID II:

In April 2014, the European Parliament approved both MiFID II, an updated version of the original MiFID law, and MiFID II's accompanying regulation, MiFIR.[1] The directive and regulation include fewer exemptions and expand the scope of the original MiFID to cover a larger group of companies and financial products.[2][3] Both MiFID II and MiFIR are set to take effect in January 2018.

Please note, I've updated the final line of this based on the latest update within the MiFID II/MiFIR section of the article and this information is cited there.

If this seems reasonable, I hope that someone will make this addition to the end of the introduction. Thanks, 16912 Rhiannon (Talk · COI) 14:07, 13 May 2016 (UTC) ---[reply]

References

  1. ^ Elliott Holley (16 April 2014). "European Parliament passes "sensible" MiFID II". Banking Technology. Retrieved 16 April 2015.
  2. ^ Hannah Smith (19 December 2014). "ESMA unveils final guidance on MiFID II rules". Investment Week. Retrieved 16 January 2015.
  3. ^ "MiFID II – what is changing?". Financial Conduct Authority. 9 December 2014. Retrieved 27 January 2015.
 Done —  crh 23  (Talk) 14:24, 13 May 2016 (UTC)[reply]
Thanks so much, Crh23! Sorry I missed this til now. 16912 Rhiannon (Talk · COI) 15:38, 23 May 2016 (UTC)[reply]

MiFID II[edit]

There should be a separate Wikipedia article for MiFID II, because it's so important in its own right. — Preceding unsigned comment added by 212.38.75.6 (talk) 14:46, 22 August 2016 (UTC)[reply]

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MIFID 2004?[edit]

I've never heard anyone call this MIFID 2004 - it's referred to as "MIFID I". Any objections if I change the title? AndrewRT(Talk) 11:07, 1 April 2019 (UTC)[reply]

Update and move[edit]

Moved because article title is not found in the legislation, see similar case, and updated to reflect the currently valid legal framework. Hekerui (talk) 07:00, 31 August 2020 (UTC)[reply]

Is it possible to explain in the intro what MiFID and MiFID II stand for? The acronym "MiFID" is used in the article but is not defined. It was formerly explained in the first sentence and that was helpful. Olivier (talk) 18:57, 9 September 2020 (UTC)[reply]
Endorsed. "The acronym "MiFID" is used in the article but is not defined" – this is a glaring error. As far as I know, 2004/39/EC is "MiFID I" and 2014/65/EU is "MiFID II", and these terms are well-known in the finance industry – they are used by The Economist, for example. The lede needs to go back to something like the text of 17:14, 17 August 2020‎ by FrescoBot: "The Markets in Financial Instruments Directive 2004/39/EC (known colloquially as "MiFID") as subsequently amended ..." The article obscures MiFID at present. MiFID is heavy-duty, important regulation (which financiers hate). CitizenEd (talk) 18:22, 26 December 2020 (UTC)[reply]
I have defined the term MiFID in the lead. Shouldn't the article be moved to MiFID, considering even the EU themselves refer to it as such? [3] Or is there a naming consensus for EU directive? Pieceofmetalwork (talk) 11:34, 13 June 2021 (UTC)[reply]

Systematic Internaliser[edit]

Can someone add a page about Systematic Internaliser? 295 entities with MIC codes are internalisers (see https://w.wiki/5qpt), that's about a quarter of active entities, so I think it should be described. That's https://www.wikidata.org/wiki/Q91437908.

See all MIC entity categories: Market_Identifier_Code#Market_Categories. -- Vladimir Alexiev (talk) 09:14, 21 October 2022 (UTC)[reply]

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