The European Commission has recently published proposals to amend MiFID II. Although the proposed reforms are largely superficial, the following will be of interest to managers with offices or affiliates in the United Kingdom or European Union: (i) proposed changes to disclosure obligations with regards to costs and charges of the investment services; and (ii) proposals to carve out fixed income research and research on SME issuers from the research unbundling rules. Managers that trade commodity derivatives on EU markets will welcome the proposed measures to relax some of the aspects of the MiFID position limit rules.
This article appeared in the August 2020 edition of SRZ’s Private Funds Regulatory Update. To read the full Update, click here.