The European Securities and Markets Authority (ESMA) had launched in May 2014 the consultation process for the implementation of the revised Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR), to which CFA institute has answered (see our news dated 25-05-2014 further on this page).
MIFID II/MIFIR R is a huge piece of legislation impacting both Financial Markets (Structure, Transparency and Regulation) and Investor Protection. On investor protection: it aims at strengthening protection for retail investors through limits on the use of commissions; conditions for the provision of independent investment advice; stricter organisational requirements for product design and distribution; product intervention powers; and the disclosure of costs and charges.
Please also note that on Inducements & transparency (a sub-theme of MIFID), CFA institute has published a unique piece of research covering major european markets:
Restricting Sales Inducements: Perspectives on the Availability and Quality of Financial Advice for Individual Investors