Bumf and bumf-ability

Each time a directive is altered in the run-up to implementation, the resulting rewording and reprinting of documentation can prove almost as challenging as getting the changes accepted by the industry. When that directive is as large as Mifid, a whole new level of pain is introduced. By Duncan Wood

THE collective term is 'bumf': brochures, leaflets, pamphlets and other marketing material and product documentation. The financial services industry churns out vast amounts of the stuff and, in the run-up to Mifid's implementation, getting it all reworded and reprinted is just one of the many headaches facing some institutions.

Nic Gordon, a senior manager in Bearing Point's London office, says