“The financial services industry faces a daunting task as the European Commission’s MiFID II legislation draws close to its final deadline, and grave concerns about inconsistencies in the rules and the pressures of meeting it remain.
Speaking at the FIX Trading Community conference this week, Stephen McGoldrick, regulation co-chair at the FIX Trading Community and director at Deutsche Bank, said: “It’s quite terrifying when you look at all there is to be done. “The mass of work brokers are facing is huge. As for the buy-side, In MiFID one there were big areas where they could say, ‘It’s OK, the sell-side will take care of that for us’. That luxury is not going to be available to them this time.”
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