The European Commission has recently
published a press
release announcing plans to revise the Markets in Financial Instruments
Directive (MiFID) in the form of a Directive and a Regulation.
The aim is to ensure all trading venues have to "play by the same
transparency rules and that conflicts of interest are mitigated". The
reforms also aim to provide better access to capital markets for Small and
Medium Sized Enterprises (SMEs) by creating a specific label for SME Markets
that meet their needs.
There is also mention of taking in to account technological advances that have
drastically increased the speed of trading that causes exposure to risk.
Through increasing transparency and reinforcing supervisory powers by
regulators the reforms aim to strengthen investor protection.
For more commentary on directors' duties and shareholder litigation,
visit Gibbs: Law
and Life, a blog centering on directors' duties and company law,
particularly on interpretation and practicality of directors' duties in the
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