Europex held their general assembly last week, and have issued this statement making note of the most important points discussed. Amongst those points, they raised their concerns about the impact of MiFID II on the energy market and also the potential for CRD IV and CRR to impose undue heavy capital requirements on the industry.

The approach suggested is to work on the “Commodity Dealer” regime within financial regulation, rather than pushing back against exemption loss and the new ancillary activity exemption rules as a whole. The recently issued final draft of the MiFID II Regulatory Technical Standard(RTS) has caused some push back by various market players, while the draft is considered for approval.