Europe looks to loosen MiFID II due to pandemic

With the coronavirus pandemic weighing heavily on Europe’s economy, the EU is now arguing that softer rules on the finance industry are needed to help the recovery.

The bloc is planning to loosen a key plank of MiFID II that forces investors to pay banks and brokerages for research separately from their trading fees.

The proposal also trims investor protection rules like record keeping and disclosure requirements primarily focused on professional investors.

Over in the U.S., the SEC has proposed raising the Form 13F reporting threshold, voted to regulate proxy advisers more closely, while a new U.S. derivatives rule is set to complete Dodd-Frank.

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