Deutsche Bank and others face off with Esma over Mifid II
Deutsche Bank, Societe Generale and UBS object to revealing profit margins on structured products as part of a push to expand disclosure
Banks should not be required to reveal their profits on structured products as regulators push for greater transparency, banks said in response to a consultation on the Markets in Financial Instruments Directive (Mifid II) adopted by the Council of the European Union earlier this year.
Reacting to a proposal by the European Securities and Markets Authority (Esma) that would require firms to disclose "mark ups" embedded in the price of financial instruments, some banks warned against forcing
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