Companies need to lobby regulators to prevent FSA best execution model

Financial firms affected by the Markets in Financial Instruments Directive (Mifid) need to argue hard against the Financial Services Authority (FSA) in the UK’s model for best execution, according to Simon Morris, a partner at CMS Cameron McKenna.

Best execution is the requirement is that firms have a process to take all reasonable steps so that the best possible result can be achieved.

There are too many unresolved issues surrounding best execution, says Morris, who is concerned about the lack of clarity from Brussels regarding how best execution can be defined or achieved. “Go home and lobby your national regulator to not follow the FSA model as it is both mad and dangerous,” Morris added. .

The UK will face the least amount of

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