Q&A: French regulator defends Mifid II commodity rules

Mifid II has sparked an outcry from EU energy firms, which complain the new rules will force them to curtail hedging or even exit the markets altogether. But Vincent Derbali, an official with France's AMF and a member of Esma's commodity derivatives task force, says true hedgers have nothing to fear

Vincent Derbali - AMF
Vincent Derbali: "We don't expect many new Mifid-licensed entities"

Vincent Derbali may not be widely known among energy traders, but as a member of the commodity derivatives task force of the European Securities and Markets Authority (Esma), he helped craft a controversial set of rules that the continent's energy industry is working frantically to undo.

On September 28, Paris-based Esma released final draft regulatory technical standards (RTS) for the reworked Markets in Financial Instruments Directive (Mifid II). European Union energy firms have been vehement

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