One of the most important reactions to the financial crisis of 2008 in the EU was the initiation of the Markets in Financial Instruments Directive II (MiFID II). Currently, the directive is planned for implementation in 2017. In providing investor protection, the EU is counting on transparency with commissions and fees for investment advice and will probably offer the member states the possibility of prohibiting commissions entirely – as is already the case in the United Kingdom. MiFID II is also the most important catalyst for the planned Swiss financial services law (FIDLEG). With this law, Switzerland wants to adapt to future EU regulations in order to safeguard the access of Swiss financial institutions to the EU.

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