A source close to the trilogue discussions around the Markets in Financial Instruments Directive and Regulation (MiFID II / MiFIR) has said that talks regarding the final text will continue “for several weeks” before anything is approved.
An agreement was reached last week, but details on the text itself had not been confirmed.
According to sources, there will still be technical meetings between the Council of the European Union and the European Parliament to agree on technical details and after that the text will be consolidated and go through a legal review, before being submitted for approval to the member states’ representatives and the European Parliament ECON committee.
The text will be published when it has been approved. The text will then be prepared and formally adopted by the European Parliament and the Council.
An EU source said, “At this point we don’t have more details to confirm than what is in the press release, as the text is still under consideration in technical meetings.”
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