FBE argues Mifid requires substantial redrafting
BRUSSELS – The European Banking Federation (FBE) recently issued its comments in response to the latest draft of the Markets in Financial Instruments Directive (Mifid) regulations from the European Union (EU), suggesting that many details may still require fine-tuning.
Although FBE officials explicitly welcome "some of the changes introduced by the commission in the current draft," federation officials, however, cite "several additional important changes" that need to be made.
The FBE, which represents the interests of 4,500 banks from the EU and European Economic Area, has therefore requested clarifications on a number of articles and definitions.
First, the FBE suggests the definition of "negotiated transactions" should be revised to reflect the fact that
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