June 21 2018

DK on the planned amendment of MiFID II

On 21 June 2018, the German Banking Industry Committee (DK) commented on the planned amendment of MiFID II. GBIC supports the EU Commission's efforts to promote sustainable finance. From GBIC`s point of view, however, it is essential that the classification for sustainable investments is available before any changes are made to the existing legal situation. Only in a second step should new rules for the distribution of securities be considered, which are based on the previously defined criteria. Assuming a taxonomy is available, a further revision of the securities business processes, which were only extensively adjusted as of January 3, 2018, should not take place before the planned review of MiFID II.

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