Europe's top legal experts are picking apart the Mifid reforms and there are several areas that are still causing concern
Legal experts have picked out the more
controversial points in the highly-anticipated delegated acts
of Europe’s markets in financial instruments
directive (Mifid), writes Julie Aelbrecht.
The first of the latest,
highly-anticipated level II measures under Mifid, known as the
delegated acts, were published in early April. The second set
followed at the end of that month while the third and final
wave hit in mid-May.
The rules supplement the Mifid II rules
and cover "non-essential elements" of the legislation, with the
delegated acts handling some of the more technical requirements
under Mifid II.
"The majority of provisions as published
reflect the European Securities and Markets
Authority’s technical advice to the Commission and
therefore, while firms might not like all of them, they have
had plenty of time to get used to them," said financial
services partner Hannah Meakin at law firm Norton Rose
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