Thursday, November 01, 2007

Uneven start for 'level playing field'


The November 1 deadline for the implementation of the European Union’s Market in Financial Instruments Directive is all but upon us, and national regulators are rushing to get the relevant legislation onto the books.

For the asset management industry across Europe, the landscape is still covered in fog. Late implementation means that regulators will not have had time to interpret the new legislation, let alone communicate that interpretation to the industry.

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