The European Commission’s review of the Markets in Financial Instruments Directive (MiFID) is one of the most important regulatory initiatives that is likely to affect the cross border securities markets.

The Commission published a consultation paper on its review of MiFID in December 2010, to which ICMA has responded on behalf of its members.

2 February 2011 ICMA’s response the Commission’s MIFID Review Consultation

10 March 2011 ICMA and a number of other associations wrote to Commissioner Barnier, expressing support for the principle of broadening investors’ choice. The signatories believe that preserving investors’ freedom to choose where to execute trades is entirely compatible with the goals of ensuring transparency, strong risk management and operational efficiency.

For further information on ICMA’s work in this area contact John Serocold on +44 20 7213 0313.