Community
At an event this week I heard an interesting opinion from the compliance head of German bank WestLB. His view was that in the German market, no-one saw any strategic benefits arising from MiFID - only cost and hard work. In fact, he said, with Germany's fragmented financial industry, many would be overburdened by the cost of compliance and this could lead to a wave of consolidation among smaller buy-side and sell-side firms.
One of the EC's main aims with the MiFID, besides increasing retail investor protection, is to increase the competitiveness of Europe by shaking up the execution venue business, and promoting competition to entrenched national exchanges. I wonder if it also intended the regulatory burden to force M&A activity among regulated firms in countries that don't currently have highly concentrated financial industries, or if this would just be seen as an added bonus?
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Rolands Selakovs Founder at avoided.io
14 February
Sergei Grechkin Chief Risk Officer at AIFM Cayros Capital
Katherine Chan CEO at Juice
Yuval Shuminer CEO at Piere
13 February
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.