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Frustration over MiFID II and Priips nears boiling point

There is growing skepticism among investment managers, banks and insurance companies over MiFID II and Priips, shows new survey. 59 percent think that the new rules have not delivered better outcome for investors.

Photo: Colourbox

Ambitious plans to transform Europe’s investment industry have led to a backlash against regulators from asset managers infuriated by the vast extra workload and higher costs.

Reforms introduced in January 2018, known as MiFID II and Priips (packaged retail investment and insurance products), affect all investment managers, banks and insurance companies operating in Europe as well as the financial future of every European citizen, reports Financial Times.

According to the regulators, new and improved standards will encourage more savers to buy investment products, boosting capital flows to companies and strengthening economic growth. But the reforms introduced intractable problems, and raised questions about the complex processes involved in designing, implementing and evaluating pan-European financial regulations, says the sector. According to FT, scepticism about whether the benefits achieved are widespread.

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