Commons Sense

House of Commons · Written Ministerial Statement

Responses to consultations on reforms to MiFID and the Prospectus Regime

03 March 2022 · Treasury

Proposed by John Glen Con Salisbury

Business & Trade

Summarised by AI from the official record, so it can contain mistakes.

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At a glance

Key points

  • Responses to consultations on reforms to MiFID and the Prospectus Regime are addressed in the statement.
  • The government plans to introduce legislative changes for MiFID reform focusing on five key areas.
  • The UK will repeal the EU Prospectus Regulation and implement a tailored regime to enhance competitiveness.

Issue summary

This statement addresses reforms to the Markets in Financial Instruments Directive (MiFID) regime and the Prospectus Regime, following consultations in 2021.

Action requested

The government intends to bring forward legislative changes for MiFID reform when parliamentary time allows, focusing on five key areas with strong support. For the Prospectus Regime, the UK will repeal the EU Prospectus Regulation and replace it with a tailored regime to enhance competitiveness as a global financial centre.

Key facts

  • The government consulted on MiFID reforms in 2021.
  • HM Treasury received 78 responses for the MiFID consultation.
  • Lord Hill recommended a review of the UK’s prospectus regime.
  • The Prospectus Regime Review is based on EU Prospectus Regulation, now part of retained EU law.
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