Sweeping changes to the European securities markets are planned by the European Commission through its review of the Markets in Financial Instruments Directive - the MiFID review.
The European Commission published its legislative proposals in October 2011, with a view to adopting them later this year or early next. The new regime will fundamentally change the way securities markets operate in the EU and could come into play in less than three years. Key goals for the new regime will be enhanced system stability, market efficiency and competitiveness, and investor protection.
All areas of the securities markets will be affected, some dramatically. Those who act now will be able to identify and capture potential market opportunities, and plan proactively for the restructuring that will be required.
PwC can bring together skilled strategy, change management, operational efficiency, tax, legal and regulatory specialists with extensive knowledge of global and European securities markets to help you address the challenges and realise opportunities of MiFID review - bringing to bear our understanding of the broader regulatory agenda in the EU and globally.
Security market participants need to understand the strategic and operational implications of MiFID review proposals, and to develop a clear strategy and change programme to take advantage of the opportunities that will arise.