On February 19, ESMA held a hearing on its MiFID II / MiFIR Consultation. Guillaume Prache, Managing Director at BETTER FINANCE, attended the meeting and took the opportunity to ask if the new technical standards proposed by ESMA would help ending this investor detriment. ESMA replied that indeed in the future data collected from the SIs together with supervision actions should improve the compliance of SIs with best execution requirements.
On behalf of individual investors, BETTER FINANCE demands that the new market venues such as SIs comply with the same best execution and transparency requirements as the regulated markets (stock exchanges), or that they are barred from doing any business with individual investors.
Please read the press release here.