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Swinburne warns banks not to exploit Mifid II loopholes

MEP cautions traders against lining their own pockets by circumventing new rules, and fears it could lead to costly intervention by the EU

Swinburne warns banks not to exploit Mifid II loopholes

A leading EU rule maker has warned brokers and high-frequency traders against exploiting potential loopholes in new trading rules coming into force next year.

Kay Swinburne, a Conservative Member of the European Parliament, said it is "really disappointing" to hear that some market participants are looking for ways of "innovating around" the new rulebook.

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