For the past few years, development of the EU Financial Services Action Plan along with other great UK government initiatives has been the bane of most IFAs' lives.
It has led to the introduction of vast amounts of new regulation for the UK financial services sector and its advisers, and pushed up the cost of professional indemnity insurance, thanks in part to the Insurance Mediation Directive (IMD) - now the Markets in Financial Instruments Directive (MiFID)- and the Investment Services Directive (ISD). Having reached the end of a very painful journey of reform, it seems the European retail financial markets could, unfortunately, be in for yet another upheaval which authorities argue should simplify the regime. The EU’s green paper on retail fina...
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