The Prudential Regulation Authority (PRA) has published its second consultation on the Markets in Financial Instruments Directive II (MiFID II), which includes new management body and organisational requirements and proposals for granting authorisations in respect of a new investment activity, the operation of an organised trading facility (OTF), as well as emission allowances and structured deposits. Sara Evans, professional support lawyer, and Matthew Baker, partner, both at Berwin Leighton Paisner LLP, examine the proposals.
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