Gear up for MiFID (TT Nov06 p35-37)

The Markets in Financial Instruments Directive (MiFID) legislation has been written to ensure consistency across Europe and to avoid “gold-plating” the rules. Implementation is less than a year away but financial services organisations lack awareness of MiFID’s implications. Impact of MiFID across Europe will vary but it is the equity markets that will be most affected. Clients are likely to see changes to the nature of the relationship, to the way business is conducted, and the information required of them and provided to them by financial institutions.