Gauging the MiFID effect
Despite uncertainty over its exact implementation, the EU's Markets in Financial Services Directive is set to utterly transform the financial services industry. Paul Kennedy says those firms that prepare for change now will fare best in the new landscape
The Markets in Financial Services Directive, (MiFID) is the centerpiece of the European Union's Financial Services Action Plan (FSAP), the far reaching regulatory framework to enforce a competitive yet harmonized trading environment across the European Union and three EEA countries. Its impact and significance is currently the subject of a wide-ranging and lively debate.
The fact is that MiFID is going to happen and cannot be ignored, even though the deadline for compliance has been
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