UPDATE: ESMA Grants Six-Month Grace Period for Mifid II LEI Compliance

Banks and trading venues will be given an extra six months to comply with LEI requirements

delays

ESMA has repeatedly said that it would not delay the implementation of Mifid II beyond its scheduled January 3 2018 compliance date, and indeed, the regulation will go live as planned on January 3. However, the authority will grant firms an additional six months to meet the burden of compliance with Mifid II’s LEI compliance requirements.

The LEI is an individual global code assigned to companies and issuers to clearly identify them when trading or dealing with other companies. Under Mifid II,

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