Guillaume Prache, Managing Director at BETTER FINANCE, was quoted in the De Tijd newspaper on the recent agreement reached by the European Commission, the European Parliament and the Council of Ministers on MiFID II.
Representing the voice of the small investors in Europe, Mr. Prache considers the Directive relative to investors "disappointing" since "the only redeeming feature is the fact that independent advisor can no longer charge a commission".
"The majority of the consultants, however, are employed by banks or insurance companies and are therefore not subjected to this rule". Mr. Prache believes its a pity that investors will still not be able to get a view on all the orders for a particular share in the market, due to the fact that shares can be traded on several alternative platforms, whilst in the past traditional stock exchanges had a monopoly.
Please read here BETTER FINANCE's perspective on MiFID II and the Flemish article here.