A contents page.
How hard can it be!
When I see folks pick up MiFID II or MiFIR for the first time (or any regulation come to think of that!) their eyes glaze over.
When they flick through the first dozen or so pages you can feel the pain of not knowing what the heck these 100’s of pages of regulations are all about and how to make sense of it all. And to be honest, the EU seems to go out of its way to further this frustration by not providing a contents page. Maybe they feel we don’t need one.
This may sound trivial, but trust me it’s not. In a blog from last month, I tried to highlight just how complex this regulation is going to be, not just in terms of complexity, but in terms of scope and depth as well.
There’s no great secret as to how I would start this mammoth task and I can’t see how you could possibly do it without a contents page as this really helps you formulate an overall picture of what you’re looking at.
And so to make this process easier for you too, I have knocked up just that for MiFID II and MiFIR – you can send these off to the print room to jam in front of the Level 1 text before binding!
The ‘Table of Contents’ PDFs are attached below.
Just to be clear on which version of the regulation I’m now looking at (there are now 6 versions that I am aware of!), I’ve taken the final versions dated 15th May 2014 that were published in the Official Journal (OJ) on 12th June 2014.
For those of you that are interested, the OJ is, incredibly, a daily publication of telephone directory proportions containing EU legislation (L Series), information & notices (C Series) and public procurement schedules (S Series) – definitive proof of Brussels beuracracy if ever you needed it!
Our two regulations find themselves sandwiched somewhere in the middle of the ‘L Series’ and so in order to avoid confusion, I’ve referenced the OJ page numbers in the table of contents (what you see on the actual page) as well as the PDF page numbers.
If you haven’t already got the final versions of the regulations, the PDFs are also attached below.
Happy reading! 🙂