While MiFID is aimed at cross-border trading, all UK advisers will get their collar felt when the directive comes into effect. Whether the changes introduced will be beneficial is still to be seen
Most advisers will have seen the 'doom and gloom' warnings about the Markets in Financial Instruments Directive (MiFID) and cross-border EU trade over the past 12 months. Although the directive is aimed at firms that trade across Europe, UK advisers that do not do business cross-border will also be impacted. So why has MiFID become such a big issue for advisers even if they are not within the scope of the directive? The answer to this is that MiFID will make significant changes to the way that financial advice is given and how financial instruments are traded. The Financial Services Auth...
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