In a muddle over MiFID

The EU’s Markets in Financial Instruments Directive (MiFID) has appeared like a bolt from the blue for most op risk managers. Should they be scared? By Duncan Wood

They came from across the continent -- a procession of magnificent acronyms representing such august bodies as the Federation of European Securities Exchanges, and the Investment Management Association, as well as more modest organisations such as the French Financial Data Vendors Association. They all shared the same motivation -- to register their opinions on the EU’s Markets in Financial Instruments Directive (MiFID) -- and, remarkably, they all spoke with one voice. Above everything else

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