Playing it safe
The recent introduction of Mifid means UK financial firms will have to consider how they will ensure their outsourcing arrangements meet the new requirements. As Anthony Nagle points out, they would be best to err on the side of caution
The EU's Markets in Financial Instruments Directive (Mifid) came into force in the UK on November 1, 2007. The UK Financial Services Authority (FSA) made various changes to the rules and guidance in its FSA Handbook to incorporate Mifid's requirements. The purpose of Mifid is to promote a single EU market for wholesale and retail transactions in financial instruments. Mifid applies to businesses
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