MiFID II: Impact of the changed treatment benefits

Will German citizens continue to enjoy comprehensive advice from their credit institutions in the future? Do increasingly stringent requirements for securities advice serve to protect customers? How should institutions position themselves in order to maintain a stable business model in the future despite the ongoing low interest rate phase, rising costs, and planned commission bans? These and other questions arise against the backdrop of the regulatory dynamics currently affecting the financial markets. A central element of regulation is the European Financial Markets Directive MiFID, which has been in force in Germany since 2007 and has been revised in response to the financial market crisis. The changes are set to take effect in early 2017 and 2018. This paper considers only a small part of the modified directive, which will be much more comprehensive in the future. Simply looking at the changed requirements for dealing with inducements gives the reader an idea of the extent of the changes and the possible consequences for credit institutions.