Financial instruments trading, investment services and investor protection – MiFID II and MiFIR
The MiFID II Directive and the MiFIR Regulation on markets in financial instruments constitute a comprehensive set of rules principally aimed at improving investor protection and increasing transparency of trading activity. Harmonisation of rules provides for trading venues and investment service providers (banks and investment firms as well as portfolio management companies and alternative investment fund managers) the opportunity to operate everywhere in the Union.
Application and timetable
Where applicable, the regulatory framework covers, for example, investment service providers, market operators including the trading venue maintained by them, central counterparties and data reporting services providers.
The regulatory framework began to be applied on 3 January 2018.
- Laki sijoituspalvelulain muuttamisesta (Act on amending the investment services act) (1069/2017) (pdf)
- Laki kaupankäynnistä rahoitusvälineillä (Act on trading in financial instruments) (1070/2017) (pdf)
- Laki Finanssivalvonnasta annetun lain muuttamisesta (Act on amending the Act on the Financial Supervisory Authority) (1071/2017) (pdf)
- Finanssivalvonnan määräykset ja ohjeet 7/2018 Sijoituspalvelujen toiminnan järjestäminen ja menettelytavat (FIN-FSA regulations and guidelines on the organisation and code of conduct of investment services