The Timetable on MiFID

- Q2 2006. Publication of the FSA's systems and controls CP (covering requirements arising from MiFID and CRD)

- Q3 2006. Publication of the FSA's MiFID consultation paper (covering MiFID provisions on markets transparency, transaction reporting, authorization and permissions and enforcement and cooperation - but excluding conduct of business and financial promotions)

- July 2006. Vote of the ESC on Level 2 and adoption of the final Level 2 measures

- Q4 2006. Publication of the FSA's MiFID consultation paper (covering MiFID conduct of business provisions and other consequential changes, including impact on business outside MiFID's scope. Reflecting the new approach to our Conduct of Business sourcebook as laid out in CP 05/10)

- Q4 2006. Publication of FSA's Financial Promotions consultation paper (covering MiFID provisions on marketing communications, with wider changes flowing from its financial promotions review)

- January 31, 2007. Transposition date for member states; national rules must be in place

- November 1, 2007. The implementation date for firms.

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