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European Parliament cuts red tape for firms and investments

European Parliament cuts red tape for firms and investments
15 February 2021

With the recent adoption of the Markets in Financial Instrument Directive (MIFID II), the European Parliament has given its greenlight to provisions helping companies in the European Union to access a diverse range of funding and supporting the post-COVID-19 recovery.

MIFID II was originally created as a legislative framework to strengthen investor protection and improve the functioning of financial markets making them more efficient, resilient and transparent. These new targeted adjustments to the framework remove unnecessary administrative burdens while striking a balance between protecting investors and keeping compliance costs low for firms. The changes apply mostly to professional clients and eligible counterparties such as insurers, pension funds or public institutions.

Markus Ferber, a German Member of the European Parliament, stated that “The targeted adjustments in the MiFID II Quick Fix will make it easier for them to tap into financial markets. We will get rid of red tape for investment firms, while still protecting investors. We have also got rid of some regulatory obstacles in the market for commodity derivatives”. This will be particularly helpful for innovative green energy contracts that are vital for the energy transition and the Green Deal.

Furthermore, changes to the Prospectus Regulation, which, create a temporary, short-form “EU recovery prospectus” (until 31 December 2022), were adopted. This simplified document presents information about a company and the securities that it offers to the public. It should help companies to raise the capital they need to rebuild their business quickly in the wake of the pandemic.

As an EU Affairs and Public Funding firm, B2EU Consulting can help industries and governments throughout the process of applying for/or positioning in favour of the funding instruments.

Image © ESMA, 2017

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