The report is the Parliament’s position that will allow to start the negotiations with the Council. I voted in favour and back our EP rapporteur in this difficult negotiation. The proposal contains targeted amendments to the directive on financial markets (so called MIFID II) in order to reduce some of the administrative burdens that professional investors face. The controversial point of this report refers to the changes to the commodity derivatives regime, aiming to help small energy markets to develop. This proposal is part of the Capital Markets Recovery Package, which is part of the overall coronavirus recovery strategy. Decentralisation is an important step in our transition to a more sustainable economy, and we need to address the barriers existing in the financial markets.