Brussels, 06/03/2012 (Agence Europe) - The Fédération Européenne des Conseils et Intermédiaires Financiers (FECIF) is concerned about the impact of the changes to the EU MiFID II Directive on financial instruments on its members (financial intermediaries and agents - see EUROPE 10478). “Our association is very concerned by the inflexible position taken by the European Commission as part of the review of the MiFID Directive, calling for a ban on payment of commission and/or inducements to intermediaries”, it explains in a letter to EU Internal Market Commissioner Michel Barnier seen by this newsletter. FECIF says: “There is no other example in the past of a prohibition imposed by the European Commission to a sector to get a proper remuneration for a job performed under an already extremely strict regulatory environment. We have proposed, instead of an obviously discriminatory and anti-democratic ban, an obligation of disclosure of the type of remuneration applicable to the transaction and/or the service.” (MB/transl.fl)