Mifid
Brexit financial services deal will be difficult
The industry has accepted that so-called “passporting” rights will not be possible after Britain leaves the EU. The concept of “equivalence” has been mooted as a solution but even agreeing to that will be difficult, writes Mark Boleat.
On finance, ‘Think Sustainability First’
‘Think Sustainability First’ must be a principle that guides financial policymaking through this decade and the next if Europe is to have the means to match its global ambitions, writes Arlene McCarthy.
Turning the page on the eurozone crisis: Economy and Finance in 2018
On the tenth anniversary of the financial crisis, the European Union will definitively turn the page on the worst economic crisis in its history with the closure of the Greek rescue programme and the last excessive deficit procedures, while adopting the biggest overhaul of its financial sector in years.
MiFID II passes first implementation test
Despite past concerns and some delays, legislators, regulators and experts were positive about the first week since the entry into force of the Markets in Financial Instruments Directive on 3 January, seen as the biggest reform of the financial sector since the 2007-2008 crisis.
Most member states unprepared for sweeping new financial market rules
A sweeping overhaul of EU financial market rules went into effect on Wednesday (3 January), but only 11 member states met the deadline to start applying the new rules.
Romania and EU agencies smash cybercrime gang
Romanian police have smashed, with the help of European law enforcement agencies, a computer fraud gang accused of stealing millions of euros from unsuspecting victims, officials said Thursday (17 November).
A cashless society is a fairer society
Greater transparency is key to combatting VAT fraud and the shadow economy, writes Jason Lane.
Hollande says post-Brexit City must relinquish euro business
Britain's City of London financial district would have to give up its role in processing euro currency transactions after it leaves the European Union, French President François Hollande warned on Wednesday (29 June).
EU poised to delay landmark financial markets reforms
The European Union's major reform of financial market rules faces a delay of a year to January 2018 to give the financial services industry more time to prepare, a senior European Commission official said on Tuesday (10 November).
Commodity ‘speculators’ targeted in EU-wide securities reform
Europe-wide curbs on commodity "speculators", more light on the bond markets, and reinforced controls on ultra-fast trading were proposed by European Union regulators on Monday (28 September).
Financiers attack EU rules against food speculation
The EU’s Markets in Financial Instruments Directive (MiFID) II is supposed to prevent excessive food speculation. But Oxfam says the financial sector is fighting stricter rules, with grave repercussions. EURACTIV Germany reports.
MiFID II is giving market makers mixed messages
Proposed revisions to the Market in Financial Instruments Directive (MiFID II) is giving market makers, many of whom use high frequency trading methods, mixed messages. This could hurt their ability to provide liquidity to European financial markets, especially if their remuneration is limited by lawmakers, writes Johannah Ladd.
MEPs approve ban on ultrafast trading
Europe's first direct curbs on ultrafast trading and investors who take bets on commodity prices moved a step nearer on Friday (26 October) when the European Parliament backed new securities rules.
UK report rejects EU plan to curb high-speed trading
European Union plans to clamp down on trading shares faster than the blink of an eye could damage market efficiency and reduce liquidity, a UK government-sponsored paper said, rejecting a key Brussels proposal to force traders to hold shares for longer.
MEPs vote for brakes on ultra-fast trading, food speculation
Speculation on financial markets is contributing to higher and more volatile food prices, said MEPs in the European Parliament's Committee on Economic and Monetary Affairs, who voted yesterday (26 September) for a 500 millisecond break on ultra-fast computerised trades.EU plans to regulate High Frequency Trading will hurt investors
EU proposals to regulate high frequency trading under MiFID may well end up raising transaction costs for end-investors and pushing trading into the dark rather than making markets more transparent, argues Remco Lenterman.
MEPs seek to scrap competition among bourses
Opening competition between stock exchanges for clearing and listing non-equity financial instruments is likely to be a core dispute today (19 June) when MEPs discuss amendments to the Markets in Financial Instruments Directive (MIFID II).
EU lawmaker turns screw on ultra-fast trading
Banks should be banned from giving outside brokers direct access to markets as part of a sweeping crackdown on computerised high-frequency trading, reads a European Parliament report to be presented to the Economic and monetary committee on 24 April.
Financial regulation plays catch up with crisis
The European Commission has proposed extending the Markets in Financial Instruments Directive (MiFID) to redress market abuse and volatile trades highlighted by the financial crisis. Experts warn that arbitrage is always around the corner.
EU to force derivatives onto exchanges
Widely traded derivatives would have to be transacted on an electronic platform to improve transparency and safety, draft European Union rules showed on Monday (5 September).
EU market regulation pinching small investors
An EU regulation aimed at making stocks trading more transparent and competitive has done the opposite and is penalising small investors to boot, according to the EuroInvestors trade body which represents small investors.
EU bankers to face tougher sanctions, prison
Bankers could face higher fines and even prison sentences, according to a proposal tabled by the European Commission today (8 December).
EU regulators to probe financial trading
Traders who sell complex financial products, like credit defaults swaps, will face increased transparency standards if European regulators investigating high-frequency trading get their own way.