Policy Chairman Catherine McGuinness said:

“The success and growth of the City can partly be attributed to a reliable and predictable regulatory system. This regulatory environment adds to our attractiveness as a leading, innovative global financial centre.

“MiFID II marks a real watershed moment for financial regulation. It will be the last major piece of regulatory reform following the financial crash of 2008.

“Financial and professional services firms have worked hard in recent times to implement these onerous and complex changes.

“While they have been a big distraction for firms, I am certain they are well-placed to strengthen their position in the global marketplace.”

ENDS