Proposal for a Regulation on markets in financial instruments and amending Regulation [EMIR] on OTC derivatives, central counterparties and trade repositories
October 24, 2011
On 20 October 2011, the European Commission published a legislative proposal to amend the Markets in Financial Instruments Directive (MiFID) (2004/39/EC) and its implementing regulation.
Among other things, the proposal includes new rules on
- organisation of central counterparties;
- portability of client accounts and segregation of client assets;
- reporting of OTC transactions; and
- business conduct standards.