It has been on the cards unofficially for a while, but last week EU Internal Market Commissioner, Charlie McCreevy, confirmed that the European Commission will be reviewing the impact of MiFID on the financial services market in the region at the end of the year. MiFID mark two is also in the works, with the Committee of European Securities Regulators (CESR) providing its support for transaction reporting to be extended to the world of OTC derivatives.

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