Background
The final legislative texts of Directive 2014/65/EU [Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (OJ L 173, 12.06.2014, p. 349).] (MiFID II) and Regulation (EU) No 600/2014 [Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) N0 648/2012 (OJ L 173, 12.06.2014, p. 84).] (MiFIR) were approved by the European Parliament on 15 April 2014 and by the European Council on 13 May 2014. The two texts were published in the Official Journal on 12 June 2014 and entered into force on the twentieth day following this publication - i.e. 2 July 2014.
Many of the obligations under MiFID II and MiFIR were further specified in the Commission Delegated Directive [Commission Delegated Directive (EU) 2017/593 of 7 April 2016 supplementing Directive 2014/65/EU of the
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