MiFID should tackle role investment funds on commodity market, claim Greens
Jennifer Baker is joined by Richard More O’Ferrall, spokesperson for the Greens Group, to discuss the final trialogue on the extension and amendments of the Markets in Financial Instrument Directive (MiFID II).
The current Financial Instrument Directive aims to increase market competition but the financial crisis made obvious that the legislation lacks sufficient investor protection, transparency and regulation measures. Next to these measures the Greens Group is strongly in favour of legislation that tackles the role of investment funds on the commodity markets, explains More O’Ferrall. Such speculations have an enormous influence on the food market, claims More O’Ferrall, and hence on the food supply in developing countries. “Those speculations hit the people the most that struggle already with bringing food on the table”, says the spokesperson for the Greens Group.