Data Challenges Force MiFID 2 Delay
European regulator ESMA concluded that the data burden made the original 2017 deadline unfeasible.
In a statement granting the extension, EC officials cited the “exceptional technical challenges” faced by regulators and market participants to ensure compliance with the new regime, and said the delay would allow the appropriate infrastructure to be put in place for MiFID 2 to “work effectively” and to nullify any “potential market disruption.”
Rumors of a delay have been rife since November, as market participants realized the enormity of IT systems that will need to be built to support MiFID
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