Back to press room

House of Lords report on MiFID

Financial Markets

For press enquiries or to receive our press releases via email, please contact:

Finance Watch

Charlotte Geiger

Senior Communications Officer

(FR, EN, DE)

charlotte.geiger@finance-watch.org
+32 (0)2 880 0441
+32 (0)474 331031

10 July 2012, Brussels

The UK’s House of Lords published its report on MiFID today. The report, drafted by its sub-committee on EU affairs, will help to determine the UK’s position in Council leading up to the ECOFIN meeting on 9 Ooctober.

Finance Watch gave evidence to the House of Lords Sub-committee on 29 May 2012.

In the conclusions to its final report, “MiFID II: Getting it Right for the City and EU Financial Services Industry”, the Lords were sympathetic to a number of issues raised by Finance Watch in its position paper “Investing not Betting”, including doubts about organised trading facilities (OTFs), the need for a consolidated tape, the need to distinguish between normal algorithmic and high-frequency trading, and support for a ban on sales inducements. However, they did not back other proposals, including for position limits on commodity derivatives trading.

Transcript of evidence

Final report

Finance Watch Subscribe to our newsletter

Subscribe to our newsletter

Receive our monthly digest in English, French or German