UK scraps MiFID II requirements in | ||
ambitious capital markets reform | ||
Chancellor Rishi Sunak has set out plans to scrap certain MiFID II requirements in an ambitious plan to reform the UK ’ s capital markets regime following Brexit and the latest sign of regulatory divergence from the EU . The sweeping changes proposed by the HM
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Treasury on 19 April include the removal of several MiFID II restrictions inherited from Europe such as the share trading obligation ( STO ) and the double volume caps ( DVCs ) related to dark pool trading .
“ The consultation process aims to deliver a
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rulebook that is fair , outcomes-based and supports competitiveness , whilst ensuring the UK maintains the highest regulatory standards ,” said Sunak in his statement .
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