| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2011) 656 final (20.10.11) |
| Publication Date | 20/10/2011 |
| Content Type | Policy-making |
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The Markets in Financial Instruments Directive (MiFID), in force since November 2007, is a core pillar in EU financial market integration. Adopted in accordance with the "Lamfalussy" process, it consists of a framework Directive (Directive 2004/39/EC), an implementing Directive (Directive 2006/73/EC) and an implementing Regulation (Regulation No 1287/2006). MiFID establishes a regulatory framework for the provision of investment services in financial instruments (such as brokerage, advice, dealing, portfolio management, underwriting etc.) by banks and investment firms and for the operation of regulated markets by market operators. It also establishes the powers and duties of national competent authorities in relation to these activities. The revision of MiFID constitutes an integral part of the reforms aimed at establishing a safer, sounder, more transparent and more responsible financial system working for the economy and society as a whole in the aftermath of the financial crisis, as well as to ensure a more integrated, efficient and competitive EU financial market. Related proposal: - Proposal for a Regulation of the European Parliament and of the Council on markets in financial instruments and amending Regulation [EMIR] on OTC derivatives, central counterparties and trade repositories |
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| Source Link | Link to Main Source http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=COM:2011:0656:FIN:EN:PDF |
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| Subject Categories | Business and Industry |
| Countries / Regions | Europe |
