FSA endorses industry guidance on MiFID

This is the first guidance developed by the industry which the FSA has agreed to recognise since publishing its discussion paper: ‘FSA confirmation of Industry Guidance in November 2006’. And in the first formal industry guidance relating to the Markets in Financial Instruments Directive (MiFID), the guidance covers so-called 'common platform' FSA firms – which are those subject to MiFID and/or the Capital Requirements Directive. The FSA outsourcing rules, which will operate from 1 November 2007 when MiFID comes into effect, states that a ‘common platform firm’ must - when relying on ...