Clifford Chance

MIFID2 – Romania Implementation Update

26 July 2018

Law no. 126 of 2018 on markets in financial instruments ("MiFIL") implementing MiFID2, the MiFID2 delegated Directive and the Directive on the reorganisation and winding up of credit institutions was published in the Official Gazette of Romania on 26 June 2018. The main objectives of MiFIL are to improve investor protection, enhance market transparency by expanding pre- and post-trading requirements and to promote competition in the areas of trading and settlement. Here we provide a brief overview of the main elements of the package of reforms under MiFID2 (implemented in Romania through MiFIL) and focus in particular on some Romanian additions to the MiFID2 package likely to impact the market in the coming months.

Download PDF