Warning over rushed crisis response

Press Association
City of London
City of London

"Rushed" European Commission proposals in response to the financial crisis could be "hugely damaging" to the City of London, a House of Lords committee has warned.


Crucial elements of the Markets in Financial Instruments Directive (MiFID II) risk creating unnecessary red tape, excluding American and Chinese companies from key markets and reducing competition and innovation in the financial sector, said the Lords Economic and Financial Affairs EU Sub-Committee.