Imperfect harmony: industry balks at EU foreign venue rules
Proposal could force non-EU platforms to choose between following Mifid II or ditching EU firms
Harmonising regulation across countries is usually a noble task. Shooting yourself in the foot by doing that isn’t.
European Union lawmakers have embarked on replacing the current patchwork of national access rules for foreign trading venues with a single EU equivalence regime. One part of their proposal could mean EU firms will not be able to trade on the largest third-country platforms unless those venues comply with certain rules contained in the bloc’s second Markets in Financial
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