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EFAMA says industry wants more time for MiFID II 

June 16, 2014
Daniel Flynn, International Advsor

The director general of EFAMA has said the financial industry feels ‘rushed’ into implementing MiFID II following a discussion on EU regulatory initiatives at the group’s annual general meeting.

Peter De Proft said that, while the European Fund and Asset Management Association supported the Markets in Financial Instruments Directive II, which is aimed at increasing financial transparency, there is a general feeling that the industry should be given more time.

“The consensus is yes, of course we want transparency, but this important piece of legislation should not be rushed through. There needs to be proper time and consideration given to this" he said. “Let’s create a perfect framework and system that benefits clients.”

Read more: International Advisor

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