On 2 April 2025, the Association for Financial Markets in Europe (AFME) published an updated version of its MiFID II / MiFIR implementation guide for firms operating in wholesale secondary markets. The guide provides a holistic yet detailed overview of the state of play and key implementation pain points for AFME members, which are sell-side firms operating in wholesale secondary markets. This second iteration of the guide covers regulatory developments up until 20 March 2025, and will be reviewed periodically until end of 2025.
