Part V The Broader View and the Future of MiFID, 21 MiFID II In Relation to Other Investor Protection Regulation: Picking Up The Crumbs of a Piecemeal Approach
Edited By: Danny Busch, Guido Ferrarini
- Enforcement — Investment business — Regulated activities — Supervision
The study of the interaction between different pieces of EU financial legislation becomes ever more important—and difficult. In this contribution the author clarifies the relationship between the MiFID II and several other closely related directives, such as the Insurance Distribution Directive, the PRIIPs Directive and the UCITS Directive. The analysis reveals numerous inconsistencies and interpretation difficulties. The author argues that while some of the shortcomings are inherent to the EU piecemeal approach, other problems should and could have been avoided, by adopting a holistic approach of financial regulation and supervision.