![Amendments to MiFID II and MiFIR: The EU’s markets in financial instruments [EU Legislation in Progress]](https://i0.wp.com/epthinktank.eu/wp-content/uploads/2022/06/EPRS-Briefing-733546-Amendments-MiFID-2-MiFIR-FINAL.png?fit=1024%2C683&ssl=1)
Written by Issam Hallak (4th edition, updated on 02.04.2024).
The Markets in Financial Instruments Directive (MiFID) and the Markets in Financial Instruments Regulation (MiFIR) are the principal texts regulating investment services and financial markets activities in the EU. Following a European Commission proposal to amend the MiFID and the MiFIR. a provisional trilogue agreement was reached on 29 June 2023, and the final act was published in March 2024.
The new rules establish an EU-wide consolidated tape for EU financial markets, as well as making changes to their market structure so as to increase their transparency and competitiveness. Consolidated tape is a high-speed electronic system that reports the latest price and volume data on transactions.
Complete version
- April 2024: Amendments to MiFID II and MiFIR: The EU’s markets in financial instruments (4th edition)
| Proposal for a Directive of the European Parliament and of the Council amending Directive 2014/65/EU on markets in financial instruments Proposal for a Regulation of the European Parliament and of the Council amending Regulation (EU) No 600/2014 as regards enhancing market data transparency, removing obstacles to the emergence of a consolidated tape, optimising the trading obligations and prohibiting receiving payments for forwarding client orders |
| Committee responsible: | Economic and Monetary Affairs (ECON) | COM(2021) 726 and COM(2021) 727, 25.11.2021 |
| Rapporteur: | Danuta Maria Hübner (EPP, Poland) | 2021/0384(COD) and 2021/0385(COD) |
| Shadow rapporteurs: | Eero Heinäluoma (S&D, Finland) Nicola Beer (Renew, Germany) Karima Delli (Greens/EFA, France) Gunnar Beck (ID, Germany) Johan Van Overtveldt (ECR, Belgium) José Gusmão (The Left, Portugal) | Ordinary legislative procedure (COD) (Parliament and Council on equal footing – formerly ‘co-decision’) |
| Procedure completed: Directive (EU) OJ L, 2024/790, 8.3.2024 Regulation (EU) 2024/791 OJ L, 2024/791, 8.3.2024 |
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