The U.S. Securities and Exchange Commission (SEC) could extend a 30-month grace ...
U.S. Securities and Exchange Commissioner Hester Peirce delivers a speech before the members of the American Chamber of Commerce in Japan in Tokyo, Japan August 7, 2019. REUTERS/Hideyuki Sano
The SEC had given U.S. brokers until the middle of next year to comply with MiFID II, due to a quirk in the U.S. federal securities law that bars U.S. firms from complying with the EU rules, which took effect in January 2018. “MiFID II has been quite a big issue. We did give temporary relief and I think what we’re going to end up doing is probably extending that relief because we’re trying to come up with a permanent solution, but it’s not that easy,” Peirce told members of the American Chamber of Commerce in Japan.
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