Other key concerns regarding MIFID for EuropeanIssuers are: 

- Companies may miss out on fund raising opportunities by not understanding where their shares really trade. 

- Potential to misvalue financial instruments - companies may not have sufficient information for the price discovery process needed by corporate treasurers and investor relations departments. 

- Increased potential for market abuse - multiple venues and opacity may make it easier for those who wish to game the system; 

- Impact on smaller quoted companies: there have been side effects in terms of the impact on exchange revenues, leading to decreased emphasis on and visibility for smaller companies; 

- Focus on wrong measures of investor protection – the requirements on disclosure and suitability of advice may not always work as intended; 

- Lack of clarity over proposals on admission to trading and the interaction of MIFID with EMIR as regards the treatment of non-financial corporates.

Full position paper