Markets in financial instruments Directive：金融工具市场指令.doc

European Economic and Social Committee INT/622 Markets in financial instruments - Directive Brussels, 25 April 2012 OPINIONof theEuropean Economic and Social Committeeon theProposal for a Directive of the European Parliament and of the Council on markets in financial instruments repealing Directive 2004/39/EC of the European Parliament and of the Council (Recast)COM(2011) 656 final - 2011/0298 (COD) _____________ Rapporteur working without a study group: Mr Iozia _____________   On 2 December 2011 the Council decided to consult the European Economic and Social Committee, under Article 304 of the Treaty on the Functioning of the European Union, on the Proposal for a Directive of the European Parliament and of the Council on markets in financial instruments repealing Directive 2004/39/EC of the European Parliament and of the Council (Recast) COM(2011) 656 final - 2011/0298 (COD). The Section for the Single Market, Production and Consumption, which was responsible for preparing the Committees work on the subject, adopted its opinion on 17 April 2012. At its 480th plenary session, held on 25 and 26 April 2012 (meeting of 25 April), the European Economic and Social Committee adopted the following opinion by 115 votes to 1 with 6 abstentions. * * * Conclusions and recommendations The Economic and Social Committee (EESC) welcomes the proposal to recast Directive?2004/39/EC, known as MiFID, which establishes a regulatory framework for the provision of services in financial instruments, such as brokerage, advice, portfolio management, underwriting of new issues and the way investment and other banks operate, and for market operators transactions on regulated markets. The overarching objective of the directive is to increase the transparency and efficiency of trading and limit market volatility, but also to increase the integrity of intermediaries and protection of investors and open European markets up to genuine competition in financial se