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MiFIDII/MiFIR review will be key to the future success and competitiveness of the EU’s capital markets

17 January 2023 | Press Release
European Parliament building in Brussels with EU flags flying against a sunny background

The ongoing review of MiFIDII/MiFIR is an important moment for the future success of the Capital Markets Union project. The European Council adopted their position at the end of last year and the European Parliament is currently debating these future rules, with the expectation of a draft report by the end of the month. With international competition for investment heating up markedly, European legislators need to ensure that EU regulation is helping, and not hindering, capital market growth and participation.


Various European trade associations representing EU capital markets, including EFAMA, BVI, EFSA and NSA, have published a letter outlining their main priorities for the review. This includes the following core elements:


  • Creating an EU consolidated tape to bridge EU capital markets
  • Addressing market data costs
  • Reforming the transparency regime for equity in a pragmatic way
  • Preserving balance on the transparency regime for non-equity
  • Alleviating investment firms’ best-execution reporting constraints
  • Defining precisely scoped in practices for payment for order flow (PFOF)


You can read the full letter here.




Notes to editors


You can find additional information on the MiFIDII/MiFIR regulation and review on our website here.


For further information, please contact:


Hayley McEwen

Head of communication & membership development

Tel: +32 2 548 26 52




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