AIFA moves to dispel MiFID 'myths'

AIFA says the main confusion surrounds non-MiFID firms, those firms that have opted-in to the Directive, and full MiFID firms. The factsheet answers frequently asked questions such as ‘How do I know if I am a MiFID firm?’ and ‘How will opting-in affect my firm?’ It also sets out what AIFA considers the three main myths surrounding the Directive, including the misinformation, circulated to some firms, that if they opt-in to MiFID they are not subject to FSA rules. Fay Goddard, deputy director general of AIFA, says: “The AIFA team has been made aware of some incomplete and inaccurate infor...