Mifid test is threat to banks

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Lawyers have warned that investment firms selling complex retail structured products in the UK could fall foul of appropriateness test rules under the Markets in Financial Instruments Directive (Mifid), leaving them open to legal action from investors who suffer losses.

When Mifid comes into force in November next year, investment banks and asset management firms offering complex retail structured products will be duty-bound to ensure potential clients have the appropriate knowledge and

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