There is increasing concern among investors, investment firms and European asset managers, about their ability to buy the London-listed shares of several major companies should the UK leave the EU without a deal next month.
Article 23 of EU Regulation of 15 May 2014 on Markets in Financial Instruments (MiFIR) requires an investment firm to ensure its trades take place on a regulated market, multilateral trading facility or systematic internaliser, or a third-country trading venue assessed as ‘equivalent'. In other words, if share trading in London is not granted MiFID II equivalence, EEA investment firms will not be allowed to execute trades in UK-listed securities that are dual listed, i.e. also listed or admitted to trading on another EEA trading venue. Distribution post-Brexit - how will the regulatio...
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