MiFID

 "Even There are still a number of issues which need to be tackled as soon as possible. One of these is speculation on commodity markets which makes food prices spike. We are therefore calling on the European Commission for specific provisions to prevent systemic risks and manipulative practices in the forthcoming reviews of the market in financial instruments directive (MiFID) and the market abuse directive".

Udo Bullmann, S&D spokesman for economic and monetary affairs.

The European Commission is due to propose a Review of the Market in Financial Instruments Directive (MiFID) in the second quarter 2011 (see EC strategic schedule), on July 5th, but it has been postponed to October 2011 (according to EC forward working programming of June 26). This proposal will then be sent to the Council of Ministers (representing Member States) and the European Parliament, according to the codecision processs.

In the European parliament, MEP Ferber (EPP) is expected to be the rapporteur and MEPs Goebbels (S&D), Swinburne (ECR) and Schmidt (ALDE) are expected to be the Shadow rapporteurs.