This note provides an overview of the targeted changes to the MiFID II Directive (2014/65/EU) introduced by Directive (EU) 2021/338 to assist the EU's economic recovery from the COVID-19 pandemic. The changes (also referred to as the MiFID quick fix) relate to client information and product governance requirements, the energy derivatives markets, and the rules on paying for research on small and mid-cap issuers and on fixed income instruments. They form part of the capital markets recovery package introduced by the European Commission.