MiFID (Markets in Financial Instruments Directive)

Markets in Financial Instruments Directive
http://en.wikipedia.org/wiki/Markets_in_Financial_Instruments_Directive

MiFID (Markets in Financial Instruments Directive)
http://searchstorage.techtarget.co.uk/definition/MiFID

Markets in Financial Instruments Directive (MiFID)
“Published: 12/09/2014
MiFID came into force on 1 November 2007, replacing the Investment Services Directive (ISD). MiFID widens the range of core investment services and activities that firms can passport.

What does MiFID aim to do?
It is part of a plan to create a single market in financial services across the EU by:

making cross-border business easier by setting common standards of business practice;
drawing a clearer line between the responsibilities of home and host states; and
clarifying who has jurisdiction over conduct of business.
Most firms that fall within the scope of MiFID also have to comply with the new Capital Requirements Directive (CRD) which sets requirements for the regulatory capital a firm must hold.

Which firms does it cover?
MiFID covers the following firms:

investment banks;
portfolio managers;
stockbrokers and broker dealers;
corporate finance firms;
many futures and options firms; and
some commodities firms.
For small firms it mostly affects those that hold client assets, although other firms may be affected. The directive affects the way a firm’s permissions, passporting and approved persons are recorded in our Register.”
http://www.fca.org.uk/firms/being-regulated/meeting-your-obligations/firm-guides/guide-financial-advisers/mifid

Markets in Financial Instruments Directive – MiFID
http://www.investopedia.com/terms/m/mifid.asp

Markets in Financial Instruments Directive II
http://www.fca.org.uk/firms/markets/international-markets/mifid-ii

Legislation in force: MiFID 1
http://ec.europa.eu/finance/securities/isd/mifid/index_en.htm

MiFID – What is it, and what does it mean?
http://www.kpmg.com/BE/en/IssuesAndInsights/ArticlesPublications/Documents/MiFID-what-is-it.pdf

 

MiFID Permissions and Notifications Guide
http://www.fsa.gov.uk/pubs/international/mifid_guide.pdf

Passporting
“Find out how a firm can ‘passport’ to establish a presence or carry out its permitted activities in another country in the European Economic Area (EEA).”
https://www.the-fca.org.uk/firms/passporting

Passporting: This factsheet contains help and information for financial advisers
who wish to advise their clients who live in Europe
https://www.fca.org.uk/static/documents/factsheets/fs025-passporting.pdf