EU energy firms kept waiting by stand-off over Mifid II rule
Progress on ancillary exemption halted by ‘political’ dispute between EC and Esma
European Union energy companies say they are frustrated at still not knowing whether they will need to comply with the new Markets in Financial Instruments Directive (Mifid II) when it takes effect in January 2018, amid a spat between two EU bodies over a crucial exemption for firms that trade commodity derivatives.
For most EU energy companies, remaining outside Mifid II and avoiding its onerous requirements, previously targeted at banks, is a high priority. To stay out of the scope of Mifid II
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