Date: 5th October 2016
Author:
Type: In the news
BEUC, the European Consumer Organisation, sent a letter to EU Commissioner Hill regarding the MiFID II delay.
BEUC argues that MiFID II rules would increase investor protection and that consumers would greatly benefit from their implementation. Considering that the main obstacles in implementing the law are linked to the part on reporting duties, which are not linked to investor protection rules, BEUC feels that rather than delaying the implementation of the full MiFID II package, only the elements linked to data collection and reporting should be delayed.
BETTER FINANCE fully supports BEUC’s position and hopes the Commission will consider this option.
Find the full letter here.