Complex sentence: Markets in Financial Instruments Directive (MiFID), the cornerstone of the European Commission's Financial Services Action Plan that regulate operations of the EU financial service markets, was reviewed in 2012 by the European Parliament and the Economic and Financial Affairs Council (ECOFIN).
Split into simpler sentences: Markets in Financial Instruments Directive (MiFID) is the cornerstone of the European Commission's Financial Services Action Plan that regulate operations of the EU financial service markets. It was reviewed in 2012 by the European Parliament (EP) and the Economic and Financial Affairs Council (ECOFIN).