The FinancialThe European Commission is set to review some key elements of the MiFiDII legislation that went into effect in January 2018, which have had a negative effect on operating costs and overhead for many financial firms in Europe, including Forex brokers.
As reported by CityWire and Financial Times, the Financial Conduct Authority (FCA) in the UK has also indicated it will conduct a review of some of the processes made mandatory by the legislation and more specifically the requirements set out for research firms and how they use market pricing to conduct their findings.
Of particular importance is the fact that the legislation has required many Forex brokers operating in Europe to adopt the many rules outlined in MiFiDII, often times within very short time frames and with heavy technological and data dependencies. While EU and UK regulators have not signalled any irregularities or findings in their processing of pricing and market data received by way of mandatory rules for Forex brokers, it won’t be a surprise if we see some information in the near future.