The European Securities and Markets Authority (ESMA) aims to strengthen the provisions around the passporting of financial services licenses by adding a few more rules to the Markets in Financial Instruments Directive (https://www.financemagnates.com/forex/analysis/mifid-ii-more-harm-than-good/” target=”_blank” rel=”noopener”>MiFID II).
Passporting of licenses allow investment firms to obtain financial services licenses from any of the European Union member countries and then passport them to offer services anywhere in the 27-country bloc.
Announced on Thursday…
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