Rhodri Preece, CFA, is head of capital markets policy for the Europe, Middle East, and Africa (EMEA) region at CFA Institute. He is responsible for development and oversight of capital markets activities in the EMEA region, including content development, policy engagement and outreach. Rhodri formerly served as director of capital markets policy, focusing on issues related to primary and secondary market structures. He was named one of the “40 Under 40 Rising Stars of Trading and Technology” by Financial News.
The revised Markets in Financial Instruments Directive comes into effect January 2018, introduces a sweeping overhaul of European financial markets.
With Brexit looming, parts of Dodd-Frank on the chopping block, and other stressors on the global community, now is not the time for complacency in financial reform.
Brexit is moving forward, and the investment management industry needs to keep up with the effects it could have on business.
A new CFA Institute report reviews the current EU corporate governance policy landscape and the reforms that have been introduced over the past 10 years and offers recommendations for improvement.
Market structure issues rarely attract mainstream media attention. But IEX application gets to the heart of the integrity of the market, the efficacy of the regulatory framework, and whether investors have a fair opportunity to earn a return.
Ultimately, innovation in market design and diversity of business models that cater to different investor needs must be beneficial.
European authorities underestimated the effects of the financial crisis on banks, resulting in a “lost half decade,” says Lorenzo Bini Smaghi. But there is room for the eurozone to regain competitiveness.
As is so often the case, the devil is in the detail. And with much of the detail applying to previously unchartered market terrain, it remains to be seen what consequences these rules will have for financial markets.