On Monday 17 February, the European Commission launched a public consultation on the possible revision of the MiFID Directive and the MiFIR Regulation governing securities markets.
Although the rules, which entered into force on 3 January 2018 (see EUROPE 11932/8), have worked well overall, “some adjustments may be required”, the Commission explains, citing possible changes to investor protection rules.
The consultation also covers the introduction of a new transparency tool that would allow investment managers, investment advisers and their clients to access a database of “live” asset prices across the EU in a consolidated tape format.
The Commission is also seeking the views of stakeholders on potential actions to be taken to foster research activities by SMEs.
The results of the consultation will feed into the Commission’s discussions, which, in its work programme, foresees legislative initiatives in this direction in the third quarter of 2020.
Interested parties have until 20 April to submit their comments to https://bit.ly/2vFrOU1 (Original version in French by Marion Fontana)