CFA Institute surveyed European members on product governance practices over time and the specific effects major regulatory developments like MiFID II and PRIIPs have had in this respect.
The revised Markets in Financial Instruments Directive comes into effect January 2018, introduces a sweeping overhaul of European financial markets.
ESMA uses the existing rulebook to clarify the question of when systematic internalization activities cross over into functionally operating as a trading venue.
The issue of how equity commissions are used to buy investment research takes center stage in the European Union.
As the MiFID II Level 2 consultation draws near, here’s the latest perspectives on liquidity, transparency, and HFT in Europe.
Analysis on the next European Commission president, the makeup of parlimentary committees, and how these developments will affect the implementation of MiFID.
More transparent, liquid capital markets will expand opportunities to European investors, but any new regulatory initiatives must have investor interests at heart.
Five years since the start of the financial and economic crisis, the European Union is only now finalising the long-announced reforms of its legislative framework in the field of investor protection. As the European legislature comes to a close, the time is right to make an assessment of the state of investor protection and regulatory reforms in Europe.
In Europe, different cases of mis-selling have caused national supervisors to take a more proactive stance on “complex” products.
The regulatory response to automated trading is stepping up with various initiatives globally to limit the propensity for errant technology to cause market instability. Such initiatives include tightening up controls over algorithms via more frequent and robust testing, regulatory authorisation and oversight, curbs on unfiltered electronic access to markets (such as by banning “naked” sponsored access), and more sophisticated circuit breakers to halt excessive trading volatility.
Recently, the European Commission commenced its overhaul of securities markets regulation with the publication of the eagerly-awaited revised Markets in Financial Instruments Directive, dubbed “MiFID 2”. Nearly a year in the making, the legislative package puts transparency at… READ MORE ›
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