Home » News » Effas Urges EU to Revise or Cancel Mifid Directive for Better European Capital Market Competitiveness

Effas Urges EU to Revise or Cancel Mifid Directive for Better European Capital Market Competitiveness

Imagine if the Brits gave us a Mifid directive before Brexit (read here) and now they want to get out of the case by canceling the directive to “revive” the English capital market.

For this reason, the management board of Effas (The European Federation of Financial Research Societies) they gathered and wrote a letter (click here) to EU Commission President Ursula (von der Leyen) and other EU representatives. By doing this, they want to ensure that the Mifid regulation is reviewed or canceled in the EU as well. The European market is otherwise neglected, especially compared to the US and Great Britain.

“We hope that the EU and the responsible authorities will make the right decisions now, otherwise we will be at a clear competitive disadvantage with the European capital markets,” said Fritz (Mostböck), head analyst at Erste Group Bank AG and part of the management board of Effas. , tells me.

The aim of the Mifid directive was to create greater transparency; According to Effas, this has not yet been achieved. Instead, I read in the letter, the lack of guidance and uncertainty became greater than before. With Mifid, for example, it is impossible to attract medium and small, innovative companies to the capital market.

2024-04-30 06:57:09
#Mifid #cool #anymore #Brits #pulling #relationship

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