Agenda item

Any Other Business that the Chairman considers urgent

Minutes:

MiFID II

The Markets in Financial Instruments Directive (MiFID) was applied in the UK from November 2007, but was being revised. Consultations were currently underway, but Members noted MiFID II was likely to have serious implications on the Corporation with regard to the treasury management function and as administrators of the pension fund. The changes were currently set to take effect from 3 January 2018, with organisations being required to start planning for the changes ahead of implementation.