It's very hard if not impossible to change to a US broker based in the US if you are not living in the US. I tried with multiple brokers. Ever since Sep 11 2001 they clamped down. I feel lucky I can trade with IB (as Ameritrade, Schwab etc said no way if not American or living there). I just have to change from IB UK to IB US. Pain in the a** though and the European regulators are as dumb as.... Good on the UK for leaving.
Its not about the prospectus. It is about a 2-3 page summary called a KID required by the EU regulators since 01-01-2018. A new thing,
It is about ALL ETFs. It only applies to European investors. It is to "protect" European investors. Many of the European domiciled ETFS have supplied a KID (2-3 pager) so can be traded. The problem is European domiciled ETFS are generally so much less liquid and with wider spreads and higher fees than the US ones.
I think it is impossible to open an account with IB US for European residents. I tried to switch few years ago and IB said no.
What are the Options market for the EU version of these ETFs? I'm thinking this regulation does not help protect European investors. However, to be fair, a large number of European retail investors (mom & pop) do the very simple buy & hold as part of a long term pension fund / retirement plan / etc. And are not active traders (like those on this forum). So there may not even be much of a demand from EU domiciled traders for US domiciled ETFs.
I'd agree but these were implemented earlier in the year and planned for years beforehand. Western/Southern Europe is a bureaucratic mess, eastern and northern countries should really distance themselves from this "union" but I don't see this happening. Where I am now (Baltics), much of the economy is dependent on EU funding, it's buying them cars and houses and they will in turn buy the politicians.