A businessman working with a powerful MEP, Markus Ferber, claimed to have contributed text to the updated Markets in Financial Instruments Directive (MiFID II), which went into effect on January 3.

In a 2014 email to “shareholders, stakeholders, and friends,” Dutch businessman Michael Heijmeijer said he influenced technical wording to the final MiFID II legislation in a way that would be advantageous for a commercial product he wanted to sell.

When he was contacted about the claim, Heijmeijer said he was “showing off to get people’s attention.”

Ferber played a pivotal role in shaping MiFID II, which revamped the way banks, asset managers, and traders invest their money in the EU. The Bavarian Christian Democrat is vice chair of the European Parliament’s economic and monetary affairs committee. In that capacity, Ferber served as the Parliament’s point man on MiFID II during debates on the legislation and negotiations with EU governments.

The German MEP is closely connected to the financial product in question, called TIPER, from a Swiss-registered firm, Cfinancials, which Heijmeijer founded and heads.

Further information is found at POLITICO.