Mifid benefits for UK 'hard to grasp'
LONDON – The Financial Services Authority (FSA) has confirmed a final timetable for the implementation of the Markets in Financial Instruments Directive (Mifid) in the UK but has admitted that the cost of the new regime will be considerable and the advantages unclear.
"The benefits of Mifid in terms of enhanced consumer protection are likely to be markedly less in the UK than in some continental European countries and the implementation costs are likely to be significant with the benefits to the UK less easy to grasp," said Hector Sants, managing director of the wholesale markets and business unit of the FSA.
Sants was speaking at a conference on FSA implementation of Mifid in the UK in London as he set out a belated finalised timetable for the introduction of
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