Lawyers feel the exemption could benefit UK-based prop trading firms after Brexit
The German ministry of finance has
proposed in its draft bill to implement Mifid II into German
law a clause that could exempt
non-European prop trading firms from registration for at least
200-page draft bill, published on January 23 by the German
ministry of finance, would give third country firms that deal
on own account a delay of at least one year before they have to
register with the German regulator.
Drucksache 18/10936, the German bill that
could transpose European financial reform Mifid II into German
law, contains several transitional measures, one of which
offers an exemption to third-country firms who deal on their
own account, namely proprietary trading firms.
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