Comments came at FOW’s Evolution of Proprietary Trading event on Thursday
Experts have expressed frustration that
the European Commission has not taken a pan-European approach
to non-EU firms and warned that firms may be facing multiple
interpretations of the same ruling.
One of the central questions around Mifid II involves the
application of the new regulation for so-called third country
firms, established outside the European Union. As it stands
now, the European Securities and Markets Authority and the
Commission have refused to opine on the application of the
rules to these non-EU firms, effectively leaving the decision
up to the regional regulators.
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