Fourteen trade bodies have joined forces to provide feedback on a revised version of the Markets in Financial Instruments Directive, as concerns mount over the timeframe the industry has been given to consult on the new rulebook.

The group, called the Joint Trade Association Group and described as an "informal committee" of lobby groups, is being chaired by Anthony Belchambers, a former chief executive of the Futures Industry Association, according to a document seen by Financial News.