"I am seeing more and more of the acronym 'MiFID' these days and suspect it's not just 'another piece of legislation'. What does it mean in practical terms for financial advisers?"
Simon COllins, Grainger Consulting The acronym 'MiFID' relates to the Markets in Financial Instruments Directive. This, along with the Capital Requirements Directive or 'CRD', is one of two major new pieces of European legislation to be implemented in the UK during 2007. Though technically separate, the two are similar in approach and broadly compatible. The CRD, to be applied by 1 January 2007, develops an updated, risk-sensitive capital resource framework for investment firms. New calculation methods are intended to more accurately model the risk posed by the firm's activities to itsel...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
