|Author (Corporate)||European Commission: DG Financial Stability Financial Services and Capital Markets Union|
|Series Details||COM (2020) 280|
Legislative initiative tabled by the European Commission on 24 July 2020, introducing a number of amendments to Directive 2014/65/EU on markets in financial instruments.
Directive 2014/65/EU introduced a legal framework aimed at better regulation of trading activities on financial markets as well as enhanced investor protection. The legal framework became known as 'MiFiD 2'.
The proposal aims to reduce some of the administrative burdens that investors face in their business-to-businesses (B2B) relationships, while maintaining the same level of protection. These changes became even more important in the context of the COVID-19 (coronavirus) pandemic as the businesses engage in recovery strategies. The Commission proposes to re-calibrate requirements to ensure that there is a high level of transparency towards the client, while also ensuring the highest standards of protection and acceptable compliance costs for European firms.
The draft was adopted by the Commission as part of the so-called EU Capital Markets Recovery Package.
|Subject Categories||Business and Industry, Economic and Financial Affairs|
|Subject Tags||Capital Markets Union [CMU], Financial Services|
|International Organisations||European Union [EU]|