More Mifid consultations released

LONDON - In early November, as Ian Morley, chief executive of Dawnay Day Olympia labelled the Markets in Financial Instruments Directive (Mifid) "Europe's Sarbanes-Oxley", various regulatory bodies issued yet more consultation papers for implementation.

Morley, speaking at Incisive Media's Compliance Europe event, went on to claim "even the Financial Services Authority [FSA] doesn't understand what it is about" and "it is a theoretical passport but actually a bureaucratic nightmare."

Also speaking was Katherine Seal, director of the London Investment Banking Association. She, like Morley, was unenthusiastic in her support for Mifid, stating: "Mifid is getting a back-handed reputation." Her thoughts even suggested "the original good intentions

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