The Council’s Permanent Representatives Committee (Coreper) has asked the Netherlands presidency to start negotiations regarding a proposed one-year delay to the revised Markets in Financial Instruments Directive and Regulation (MiFID 2 and MiFIR) with EP as soon as possible so as to enable adoption at first reading of legislation enacting the extension. Under the Council’s approach the deadline for the Member States to transpose MiFID 2 would be set for 3 July 2017 whilst the date of application of both MiFID 2 and MiFIR would be set for 3 January 2018. (Source: Council announces negotiations on proposed MiFID 2 delay)