They say good things come to those who wait, and market participants have certainly had to be patient as first the Markets in Financial Instruments Directive (Mifid II) and then, at the eleventh hour, the Packaged Retail and Insurance-based Investment Products (Priips) regulation was put back for another year. Joe Channer, CEO of Delta Capita, describes how the waiting could soon be over, with a revised Priips RTS now imminent, coupled with a Mifid II deadline of January 2018 locked down.
The existing delays have already come at a cost to the industry; take the uncertainty surrounding the timing of Priips as a classic case in point. The structured products industry had accepted the Priips regulation as a positive step, invested significant effort to be ready for delivery and had their minds set on January 1, 2017 as the deadline.
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