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Michel Barnier is renamed in the United Kingdom for its position on complex parts of town commerce photo: Reuters

Mr Barnier announced proposals for a public consultation on the review of the European Commission in Brussels for business investment, the markets in financial instruments (Mifid) directive key regulatory framework.

Mr Barnier, which is renamed to Britain for its position on the complex parts of commerce of the city, said: "the initial objective of this master piece of European legislation, Mifid, was to create a strong common regulatory framework for Europe's securities markets." In many respects, it was a success. But the world has changed.

"My goal is to make the revision of the Mifid lead to a regulatory framework more loudly, adapted to new trends and stakeholders in the financial markets." And a framework leading to greater transparency and efficiency, so that more protection for investors in the market.

Proposals draw plans for a radical expansion of the existing rules as well as more stringent regulations and greater transparency.

Published Wednesday, explains the consultation will be central to "provide a robust regulatory framework covering all the activities of services investment and appropriately to avoid the risks associated with non-covered activities".

Mr Barnier vision includes extending rules of transparency, which currently covers only actions, to include some of the more opaque areas of the financial markets, including the so-called "dark pools" and "over-the-counter" derivatives.

The politician has requested that regulations fight against the "high frequency" that uses computers to buy and sell shares and bonds trade quickly.

The practice was suspected of triggering of the so-called "flash crash" in may, when the Dow Jones plunged almost 10pc in minutes.

Study also examine the causes of the recent volatility of the prices of raw materials, for example in the markets of copper and silver, with a particular control of the derivatives markets.

In the document, regulators said they will consider "reporting requirements may be necessary to improve the flow of information, and if the position limits must be regarded as".

Consultation will remain open until 2 February 2011 to make legislative proposals in the spring of next year.

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