|Did the EU financial regulation cause the Brexit?|
|Wednesday, 29 June 2016 23:26|
Why Britons left - competing hypotheses are attacking us in every article. There is no use to object to dominant trends, hence I'll also try to present some propositions in that regard.
To be precise, I know, the migration issues played their part, but I have the comfort to opt for mine own subjective reasons.
Ending these concise preliminary reservations I suppose that the protracted stalemate between the European Commission and ESMA on the terms of the MiFID II ancillary exemption had the potential to irritate every rational person keen to operate in stable and predictable legal environment.
Commodity traders, still not knowing whether they will be mandated to meet demanding financial market regulations (in particular MiFID II/MiFIR) may, indeed, feel frustrated and blame for this the Brussels' bureaucracy.
Admittedly, the problem is really challenging, and lobbying parties presumably multiple, but, after all, there must be someone that ends this damn stalemate!
Moreover, I would like to know, how it could happen that the MAR secondary legislation appeared in the EU Official Journal only recently - i.e. a few days before the MAR entry into force?
MAR imposes demanding requirements on market participants and the publication of implementing regulations a few days before the market abuse comprehensive regime's date of application evokes reasonable anger towards EU institutions. It seems to be the classic example how the law shouldn't be enacted.
These are only two, most recent examples. The EU bureaucracy - make a reflection!