This is the time to fix what needs to be fixed, to refocus on consumers and to build resilience within your firms. This will result in financial services firms who are in a stronger place to serve the needs of the economy and consumers through an economic cycle. 1 Sibley, Ed, Innovation and insurance in Ireland: a supervisory perspective 2017.
2 MiFID II contains new EU-wide rules governing investment firms, credit institutions, trading venues and market  structures, as well as third-country firms providing investment services or activities in the EU. It significantly broadens the scope of MiFID by bringing new activities and firms into scope, removing or narrowing exemptions and covering new financial instruments and products.