BRUSSELS - European Union (EU) member states Spain, Poland and the Czech Republic are being taken to the European Court of Justice by the European Commission (EC) over their failure to implement the Markets in Financial Instruments Directive (Mifid), after the deadline for the transposition of measures expired on January 31.

The EC had previously issued warnings for around a third of EU member states who were lagging behind in implementing the directive, saying the benefits could not be realised until the rules had been consistently implemented across all 27 member states.

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