End of the line for mass distribution?
The Markets in Financial Instruments Directive, which comes into force in November 2007 across the European market, could spell trouble for distributors that sell structured investments without offering advice. Amanda Lee reports
Under the European Union's Markets in Financial Instruments Directive (MiFID) (see box page 14), financial advice will become a regulated investment service, which effectively means that structured products distributors will only be allowed to sell financial products directly to customers if they are non-complex financial instruments.
Worryingly for many in the structured products market, this means the directive could damage the mass distribution of retail structured investments in the EU. In
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