UK

Grania Baird, partner, Farrer & Co

The Markets in Financial Instruments Directive and its likely impact on certain key FSA Conduct of Business Rules

The European Directive 2004/39/EC on Markets in Financial Instruments (MiFID), which was passed on 21 April 2004, is one of the most important and far reaching European directives to emerge from the EU’s Financial Services Action Plan (FSAP). Once implemented, MiFID will replace the existing Investment Services Directive (the ISD) and it is a significant enhancement to this piece of legislation.