EU rapporteur says Mifid II is ‘too complicated’

Bankers claim new rules “trap liquidity”

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EU's Mifid II is set to take effect at the start of 2017

The EU official responsible for the second Markets in Financial Instruments Directive (Mifid II) told a conference in Amsterdam today (June 4) that the new rules are "too complicated" for the industry to understand.

Cora van Nieuwenhuizen, a Dutch member of the European Parliament's Economic and Monetary Affairs Committee and a rapporteur on Mifid II, said the directive was "a very, very bad example" of regulations that are too detailed and rigid.

The European Securities and Markets Authority's

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