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Responses to consultations on reforms to MiFID and the Prospectus Regime
03 March 2022
At a Glance
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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