Markets in Financial Instruments Directive (MiFID) - Implementation Timetable

The Markets in Financial Instruments Directive (MiFID) makes significant changes to the European regulatory framework. HM Treasury and the FSA expect that MiFID will be implemented in the UK on time, i.e. 1st November 2007. Its adoption into UK law and regulation has necessitated amendments to secondary legislation under the Financial Services and Markets Act (FSMA), and the FSA’s handbook of rules and guidance. The complete final rules are scheduled for publication by 31st January 2007.

The following link contains some introductory notes and an implementation timetable which sets out a chronological programme of the high level MiFID issues that will need to be considered and addressed. Complyport will work closely with its clients throughout the first three quarters of 2007 so that MiFID compliance is achieved by the deadline date.The timetable has been designed so that issues with a potentially longer lead time or those that may require input from third parties are addressed in the earlier part of the year. We will work with our clients to assess the importance and relevance of each area to your firm, all areas are included within the notes and timetable to ensure all areas upon which MiFID touches are considered.

MiFID Summary