MiFID Connect issues further guidance for firms

Guide outlines treatment of investment research under Mifid

MiFID Connect, the industry body composed of 11 financial associations, has published new guidelines on the use of investment research for firms working towards compliance with the Markets in Financial Instruments Directive.

The guidelines, which have been approved by the UK Financial Services Authority, set out how firms should treat investment research when the directive comes into force on November 1 this year. Subjects covered include the labelling of investment research, as well as the means and timing of publication for research, rules governing Chinese walls between researchers and traders, and guidance on research-related conflicts of interest.

Anthony Belchambers, chairman of MiFID Connect, said: “Mifid tightens the rules and definitions governing investment research and virtually every firm in financial services will be affected to some extent. The new guidance will help them to prepare with confidence for these coming regulatory changes.”

Last week, MiFID Connect also issued FSA-approved guidelines on the suitability and appropriateness test under Mifid.

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