MiFID warning from SII

While the Markets in Financial Instruments Directive may give additional freedoms to firms, it is also the case it will place greater emphasis on the responsibilities of senior executives – who will be in the firing line of new Conduct of Business rules. These are yet to be formulated by the FSA, although consultations are expected in the next few months once details of the wording of the directive have been finalised at the European level. However, nobody in the industry should be complacent about what is the biggest change in regulation since N2, which marked the introduction of the...