The CBI unpacks what the European financial services reforms mean for your business.
The Commission has launched two public consultations on possible reforms to the Markets in Financial Instruments Directive and Regulation (MiFID and MiFIR), setting out rules covering European securities markets, and the review of the Non-Financial Reporting Directive (NFRD).
Markets in Financial Instruments Directive and Regulation (MiFID and MiFIR)
What does this consultation mean for business?
The consultation is specifically looking to explore potential changes to investor protection rules to strike the right balance between promoting investor participation in capital markets, the competitiveness of the EU’s financial sector, and safeguarding the interests of investors.
There will also be a question to business around addressing the possible introduction of a new transparency tool that allows investment managers, investment advisors, and their clients to have access to live asset prices across the EU in a consolidated format (the consolidated tape). The introduction of the consolidated tape might require changes to MiFID and MiFIR.
The CBI will be feeding int