TISA to hammer out clear MiFID II guidelines

TISA will form two working groups to develop guidelines for firms on how to tackle the issues of product suitability for consumers ahead of a Financial Conduct Authority (FCA) consultation scheduled for the autumn. European directive MiFID II will take effect in January 2017, from when it will impact on wholesale markets and a wide range of financial services firms in the UK. The FCA issued a discussion paper on how it intends to implement the new laws in March but uncertainties around how firms will be impacted have remained. Read also: FCA consults on MiFID II independent advic...