This quote makes it clear that the way we develop and implement regulation has to change. How can it be sensible that we are 100 day out and there is still uncertainty about how to interpret the text of the (MiFID/MiFIR) regulation. Watch this space...we will change this!

Wholesale banks are used to regulatory change and adept at dealing with uncertainty but there are just 100 days before the changes are to be implemented and the industry is left debating key interpretive issues in the text - Julian Allen-Ellis, Director of MiFID/MiFIR at AFME