The Financial Conduct Authority (FCA) is considering scrapping MiFID rules on research for companies with a market cap of less than £200m as part of a package of proposals designed to "reduce the burden" on smaller investment firms and improve the competitiveness of UK financial services.
In a consultation paper published today (28 April), the FCA said it intended to amend rules "that are not achieving their objectives in an efficient way", amid its continued work with HM Treasury on capital markets reform. Following the UK's exit from the European Union, large amounts of European regulation, including MiFID, was "onshored" into the country's own regulatory regime. UK MiFID is the collection of laws and rules that regulates the buying, selling and organised trading of financial instruments. Since its introduction at EU level in 2007, the rules have represented a substa...
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