The Department of Finance held a public consultation on the national discretions contained in the Markets in Financial Instruments Directive (“MiFID 2”) and elements of the Insurance Distribution Directive (“IDD”) from 7 July until 21 September 2016 (see here). This feedback statement should be read in conjunction with the public consultation document.
Fourteen submissions were received, from investment firms, banks, law firms, professional associations and also from the public. The Minister would like to thank all those who submitted responses to the consultation for their valuable contribution to the transposition process.
The purpose of this feedback statement is to bring greater transparency and clarity to the transposition process by way of:
- publishing the responses to the public consultation;
- providing a summary of the responses to each question in the public consultation; and
- setting out the decisions which the Minister has taken in relation to the national discretions.
The Minister is no longer inviting comments in relation to the decisions outlined in this feedback statement.