The EC says "rapid technological advances, the complexity and changing make-up of financial markets and the lessons of the financial crisis" means the directive needs overhauling.

It has published a consultation paper and is now calling for replies from stakeholders ahead of legislative proposals due in the spring.

Michel Barnier, internal market and services commissioner, says: "My objective is to ensure that the revision of MiFID will lead to a stronger regulatory framework, adapted to the new trends and players on financial markets. And a framework which leads to greater market transparency and efficiency, as well as more protection for investors."

You can read the consultation here:
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