Brussels to slacken grip on MiFID advisers
Financial services providers in the private equity industry may enjoy lower compliance costs and administrative burdens under legislative changes put forward by the European Commission.
The reform – part of the Capital Markets Union (CMU) project to link EU financial systems – will create a “bespoke” prudential and governance regime for placement agents, portfolio managers and other firms providing MiFID services, replacing existing blanket rules developed with large financial institutions in mind.