What You Need to Know About Luxembourg's MiFID II Legislation

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The new act on markets in financial instruments (the “MiFID Act”), transposing Directive 2014/65/EU on markets in financial instruments (“MiFID II”) and implementing Regulation (EU) No 600/2014 on markets in financial instruments (“MiFIR”), was voted into law on 15 May 2018 and published on 30 May 2018. The MiFID Act will enter into force on 4 June 2018. Most issues related to markets in financial instruments are covered by the first part of the MiFID Act, while the provision of investment services will continue to be governed by the Financial Sector Act of 5 April 1993 (the “LFS”), as amended by the second part of the MiFID Act. Click here for more.