EU introduces public consultation on MiFID II and MiFIR

The European Commission has launched a public consultation for review of the regulatory framework for investment firms and market operators under the Markets in Financial Instruments Directive (MiFID II) and Markets in Financial Instruments Regulation (MiFIR).

Under the MiFID II framework the Commission is required to assess the overall functioning of the regime after two years of application. MiFID II/MiFIR further require that the Commission presents the EU’s Parliament and Council with a report on the operation of the new framework, together with a legislative proposal for reform, if deemed necessary. In parallel, ESMA will consider feedback received to this consultation in the first half of 2020 and is expected to publish a final report to the European Commission in July 2020.

The consultation seeks to gather evidence from stakeholders, and more generally from EU citizens, on areas that would merit amendment.

The consultation closes on 20 April 2020.

The public consultation can be found here.

The consultation review questionnaire can be found here.