More clarity offered on Mifid

The European Union has published draft implementation rules on its Markets in Financial Instruments Directive (Mifid), giving Europe's financial institutions greater clarity on how to comply with the directive. But some bankers have criticised the potential costs of the regulation as too high, while consultants have suggested that the directive might be inconsistently applied across the various member states of the EU.

Mifid will replace the existing Investment Services Directive, and aims to

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