|
|
Translated from the German
The revision of MiFID is of great importance to the German financial centre. The German banking industry (DK) thus welcomes the fact that the Council has found a compromise after months of discussion and that trialogues between the European Commission, European Parliament and Council can finally commence.
The main points in the forthcoming negotiations will be market infrastructure issues as well as the issue of investor protection. In the discussions, the DK will insist on high quality advice being available to customers of all income levels.
The new requirements will mean adjustment efforts for the institutions that can only be dealt with by granting appropriate deadlines.
Full press release (in German)