Europe's financial services industry was yesterday urged to start preparing for the introduction of sweeping new laws aimed at increasing cross-border competition and boosting the rights and protection of investors in the European Union.
The call came as the European Commission unveiled two proposals that will form a key part of the legislative project known as the markets in financial instruments directive, or Mifid.
The legislation is designed to make it easier for investment firms to operate across the EU. It will also harmonise many of the rules and regulations governing the trade in shares, bonds and other investment products.
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