The European Union's EUR-Lex (Access to European Union law) website servers have been struggling today, as firms across Europe tried to download the final form of the framework legislation for what the chairman of the European Securities and Markets Authority has termed the biggest overhaul of financial markets regulation in the EU for a decade.
The clock for entry into force, and then into application, has been started for each of the following legislative provisions:
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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) No 648/2012 (MiFIR - into application 3 January 2017)
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Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (MAR - into application 3 July 2016)
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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 (MiFID II - into application 3 Jan 2017)
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Directive 2014/57/EU of the European Parliament and of the Council of 16 April 2014 on criminal sanctions for market abuse (market abuse directive) (CSMAD -into application 3 July 2016)
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Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council (BRRD - Deadline for implementation : 1 January 2015 (bail-in: 1 January 2016).
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Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (targeted for application 4 July 2015)
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