MiFID 2.0 Unveiled

Although the drafts of MiFID 2.0, published on October 20th, follow largely what had been proposed by the CESR (Committee of European Securities Regulators) and the European Commission, the documents took observers by surprise in both their approach and length. This ECMI Commentary explains how the original legislation has been amended with the principal aim of levelling the playing field and examines its novel features. Coming together at the same time as several other pieces of draft financial regulation that have recently been proposed or announced, the author finds that they portend a very heavy workload for the European Parliament and the EU Council in the coming year.
Karel Lannoo is Chief Executive Officer and Senior Researcher at CEPS and Secretary General of ECMI.