PIMFA’s Response to HM Treasury Consultation on the Wholesale Markets Review
PIMFA’s response to the FCA Consultation on Wholesale Markets Review. This paper places a post-Brexit emphasis on MiFID reform from a capital markets perspective with market structure, trade transparency, market data and commodity derivatives identified as priority areas. However, we believe it is important that the impact of MiFID II on the competitiveness of retail-facing businesses, largely ignored in this consultation, and on the quality and effectiveness of services delivered to retail investors is not forgotten.
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