Mifid II is the elephant in the room, trade body warns

Laura Miller

European legislation the Markets in Financial Instruments directive (Mifid II) is the glaring omission from discussions about the Retail Distribution Review (RDR), according to the chief executive of the Association of Private Client Investment Managers and Stockbrokers (APCIMS).

Tim May, who made the comment at a speech in London today, said Mifid II, which has no RDR equivalent concept of restricted advisers and only proposes to disclose but not ban commission, "remains the elephant...

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