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Regulatory reform: Master timeline

EMIR

MiFID II

UK Government

UK FSA

2011 2012 2013 2014 2015

16 August 2012: EMIR came into force

19 December: Financial Services Bill receives Royal Assent

30 January 2013: Draft statutory instruments published

19 February 2013: Provisions relating to appointing senior members of FPC, FCA and PRA come into force

2 April 2012: FSA moves to ‘twin peaks’ operating model reflecting how PRA and FCA will operate

Implementation of MiFID II legislative proposals (at the earliest

8 October 2013: EU Parliament to vote on MiFID II legislative proposals

1 April 2013: Cutover to FCA and PRA

15 March 2015 most RTS enter into force and CCPs can seek reauthorisation

15 June and 15 July 2013: Equivalence decisions for first and second phase third country CCPs

Mid 2014: First clearing obligations expected to apply

13 December 2012: Council progress report of MiFID II

25-26 October 2012: EU Parliament votes on amendments to draft legislation but then refers matters back to ECON for further consideration

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