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

Provisions in Mifid II that would hit energy and commodities firms received "the least consideration and scrutiny" in the entire package, says one regulator

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.

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