Should the UK ‘ditch’ MiFID rules post-Brexit?


By Roger Aitken – With 18 months having elapsed since the implementation of the European Union’s (EU) Markets In Financial Instruments II (MiFID II) Directive, ushering in the era of unbundling for investment firms for buy- and sell-side institutions, the former chairman of the UK Individual Shareholder Society (ShareSoc) argues that many of the rules behind MiFID should be ditched or scrapped after the UK leaves the EU…

Commenting on the benefits that have accrued to investors from MiFID such as increased transparency and best execution, Roger Lawson, the ex-chairman of ShareSoc, which represents around 5,000 retail investors, says: “I don’t know of any benefit that retail investors have gained from MiFID [I or II]. And, in fact it’s actually got worse. Basically there is no money in providing research on small cap companies – unless the company pays for it.”

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