By Maximilian Clarke

The European Commission are to revise the MiFID (Markets in Financial Instruments Directive) reforms intended to curtail speculative, fast-paced trading in financial derivatives market, offering consumers greater protection.

Commenting on the proposed reforms is Matthew Fell, Director for Competitive markets at the Confederation of British Industry. He argues that regulation, whilst crucial in preventing excessive risk, must not restrict the financial industry, discouraging lending at a time when businesses are in dire need of credit:

Businesses of all sizes rely on the financial markets to raise finance and to manage their risks and balance sheets.

“It’s important that new regulations provide businesses with the right level of protection and help maintain a well-functioning and efficient market. But they must not affect firms’ ability to raise funds from the market or access the products and services that they need.

“Companies outside the financial sector will scrutinise these proposals over the coming weeks to fully understand their implications on the real economy. Legislators must take the views of all businesses on board to ensure these regulations improve how markets work for them and are not restrictive or disproportionate.”


Join us on
Follow @freshbusiness

Topics