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Directive 2014/65/EU of 15 May 2014 on markets in financial instruments (hereinafter, “MiFID II”), Regulation (EU) No 600/2014 of 15 May 2014 on markets in financial instruments (hereinafter, “MiFIR”) and the related legal instruments adopted at the level of the European Union put into place a new framework that strengthens regulation of trading activities on financial markets and enhances investor protection.
The new framework replaces the existing framework that was established by Directive 2004/39/EC (MiFID I) and implemented in Luxembourg by the Law of 5 April 1993 on the financial sector (hereinafter, the “Law on the Financial Sector”) and the Law of 13 July 2007 on markets in financial instruments (hereinafter, the “Markets in Financial Instruments Law”)...
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