European Union Committee - Second Report
MiFID II: Getting it Right for the City and EU Financial Services Industry

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Here you can browse the report which was ordered by the House of Lords to be printed 3 July 2012.

CONTENTS

Terms of Reference

Summary

Chapter 1: Introduction

Background

Is MiFID II necessary?

Box 1 : Timetable for the implementation of MiFID II

Chapter 2: MiFID II: An overview

Box 2: The main changes introduced in MiFID II

Chapter 3: Assessing MiFID II in detail

a) Market shape and the case for greater transparency

Organised Trading Facilities (OTFs) and the over-the-counter

(OTC) market

Pre- and post- trade transparency

i) Pre-trade transparency

ii) Post-trade transparency

Systematic Internalisers (SIs)

b) Algorithmic and high-frequency trading (HFT)

c) Third country access

d) Regulation of commodities markets

e) Investor protection and corporate governance

Investor protection

Corporate governance

f) The role of ESMA and the power to intervene

The role of ESMA

ESMA and product intervention powers

Chapter 4: Summary of Conclusions

Appendix 1: EU Sub-Committee on Economic and Financial Affairs (Sub-Committee A)

Appendix 2: List of Witnesses

Appendix 3: Glossary

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