Dáil Éireann Debate, Tuesday - 28 May 2013
169. Deputy Andrew Doyle asked the Minister for Finance if he or officials in his Department have received representations from the industry stakeholders regarding the Markets in Financial Instruments Directive regarding the expansion or watering down of the Directive; the persons from whom these representations came; the discussions involved; and if he will make a statement on the matter. [25432/13]
View answerThe Irish Presidency continues to progress the complex Markets in Financial Instruments Regulation and Directive, (MiFIR and MiFID) with a view to reaching an agreement on a Council general approach before the end of its Presidency. To date, the Irish Presidency has received approximately 50 representations from Industry and individuals which have focused on a wide range of the MiFID provisions including: Market Structure with particular emphasis on the OTF category and the trading obligation; Clearing and Access; Pre and Post Trade Transparency Provisions; The definition and exemptions of financial instruments in relation to physically settled commodity derivatives; Position limits; Investor Protection; Third country regime; Transaction reporting; Consolidated tape provider; Straight through processing; Algorithmic trading; Post trade risk reduction services; Exemptions; Management bodies.
Representations have been made by or on behalf of a wide range of industry representatives groups and by individual financial institutions with an interest in MiFID. The representations cover a broad spectrum of views and each is considered with a view to better informing the Presidency of industry perspectives on the issues at hand. Good progress towards a final agreement on MiFID has been made and the latest compromise texts are available on the EU Council website.
