UK Treasury releases MiFID document
LONDON – The UK Treasury department released a consultation document in mid December on the UK's implementation of the Markets in Financial Instruments Directive (MiFID), in an effort to ensure proportionate implementation consistent with principles of better regulation.
The paper deals with the legislative changes the Government will need to make to transpose MiFID into UK law. The purpose of the consultation is to explore the different options available to the government in its implementation of the directive. The Financial Services Authority plans to consult in March 2006.
The Treasury paper includes information on the scope of MiFID implementation – for example, firms that deal in commodity derivatives will now be covered by the legislation. It also explores
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