MiFID proposals seeks 5-yr discrete data

Updated content of discussion for the European Commission’s Markets in Financial Instruments Directive (MiFID), which covers European plans for Conduct of Business Rules, suggests where a financial product contains data about past performance it must “include performance information which covers the previous five years (or the whole period if the financial instrument has been offered for less) based on complete 12-month periods”. As it stands, this would conflict with existing European directives which require investment products’ have simplified prospectus, for example, to carry 10-year...