MiFID v2: May usurp depolarisation

Guy Sears, head of implementation and policy for the Association of Private Client Investment Managers and Stockbrokers – European Association of Securities Dealers, says their interpretation of rules stems from analysis of Article 4 of the latest MiFID draft document, which suggests restrictions on FSA powers over investment firms covered by provisions of the directive. These restrictions are the result of the directive’s focus on harmonising rules across the EU, which Sears says represents perhaps the biggest surprise in a document otherwise seen as mostly refining points flagged up in...