Many of the wide-ranging amendments address the perceived barriers MiFID II introduced in capital markets and are likely to be welcomed by industry.
..The amendments aim to remove administrative burdens that result from information and disclosure rules.
.. Bonds with make-whole clauses are to be exempt from the product governance regime; the amendments represent the first time the European Commission has acknowledged that “simple” bonds with a make-whole should not be a PRIIP.
..The amendments recalibrate the position limits regime for commodity derivatives.
..The European Commission has launched a consultation on the regime for research on small and mid-cap issuers and on fixed-income instruments, including a “research unbundling” exception, to help the recovery from the pandemic.
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