Financial Services: Improving European Rules for a More Robust Framework
02 Feb 2011
Financial Services: Improving European Rules for a More Robust Framework for all financial actors and instruments – Press release concerning consultation paper on review of MiFID
Source: European Commission
The European Commission has launched a consultation on the review of the Markets in Financial Instruments Directive (MiFID), the aim of which was to create a common regulatory framework for Europe’s securities markets. The review targets those areas where shortcomings have been revealed or improvements are needed: in light of the Crisis and the constant evolution of financial markets, and in order to meet G20 consensus targets of tackling under-regulated aspects of the financial system. The consultation tackles five key elements: developments in market structures and practices; transparency of markets; commodity derivative markets; investor protection; and supervision (particularly with regard to the precise role for the European Securities and Markets Authority, to be functioning in January 2011).
The purpose of this consultation is to gather input from all stakeholders in order to inform legislative proposals due in spring 2011.
Deadline for replies: 2 February 2011
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