Proposal for a Directive amending Directive 2014/65/EU as regards information requirements, product governance and position limits to help the recovery from the COVID-19 pandemic

Author (Corporate)
Series Details COM (2020) 280
Publication Date 24/07/2020
Content Type

Summary:

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.

Further information:

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.

Source Link https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=COM:2020:280:FIN
Related Link(s)
Official
EUR-Lex: SWD(2020)281: Staff Working Document accompanying the Proposal https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=SWD:2020:120:FIN
European Commission: Publications: Coronavirus response: How the Capital Markets Union can support Europe’s recovery https://ec.europa.eu/info/publications/200722-proposal-capital-markets-recovery_en
European Commission: Press Release, 24/07/2020: Coronavirus response: Making capital markets work for Europe's recovery https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1382
European Commission: Coronavirus response: How the Capital Markets Union can support Europe's recovery (24 July 2020) https://ec.europa.eu/commission/presscorner/detail/en/qanda_20_1377

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