The Markets in Financial Instruments Directive (2004/39/EC) (‘MiFID’) is the successor to the Investment Services Directive. The objective of MiFID is to make it easier for investment firms to undertake investment business across the EU, whether on a cross-border basis or through branches. MiFID is due to be implemented on November 1, 2007.
In the UK, the FSA is consulting the financial services industry on issues arising from the implementation of MiFID. In May, the FSA published a Discussion Paper (DP 06/3) on Implementing MiFID’s best execution requirements. The joint response to DP 06/3 by ICMA, ISDA and TBMA, in collaboration with LIBA can be accessed below.
See full Discussion Paper.
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