More than half of UK financial institutions ready for Mifid, says research
More than half the UK’s biggest financial institutions say they are ready for the Markets in Financial Instruments Directive (Mifid), even though some of the technical details have not yet been finalised.
A survey of 15 of the top 20 financial services organisations by analyst Datamonitor, shows that 53 per cent of firms are ready for the directive, which will come into force in November 2007.
To tackle the growing amount of regulation, 80 per cent of institutions will increase staff compliance training, and all plan to increase technology investment.
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