Firms ignore forthcoming MiFID risk

More than 90% of UK-based asset managers have not begun to implement changes required for the Markets in Financial Instruments Directive (MiFID), according to new research. The survey, by law firm Lovells and software group Microsoft, revealed progress on MiFID projects was slow because firms were waiting for more detailed information to be released by the FSA. It also showed a top priority for companies over the next three to six months was to review FSA consultation papers. Firms surveyed identified best execution as being most problematic, followed by client categorisation, and trade a...