The European Commission has published its widely trailed Markets in Financial Instruments Directive (MiFID) review, calling for greater oversight of high-frequency trading and a clamp down on speculators in commodities.
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:Download the document now 320.9 kb (PDF File)