Mifid II commodity rules agreed at 'last minute', officials say

Amid outcry, EU regulator suggests delaying capital rules for energy traders

david-lawton
David Lawton, UK Financial Conduct Authority

Facing an outcry from energy firms that would need to set aside billions of dollars to comply with the bank-like capital requirements of proposed European Union derivatives regulations, officials conceded at an industry event that the controversial rules had been finalised at the "last minute", shaped by political pressures and not subjected to the strictest scrutiny before their release.

The candid comments at an October 12 panel sponsored by the London Metal Exchange (LME) came two weeks after

To continue reading...