Muddying the Waters

One of the primary aims of the European Union's Mifid regulation was to create a harmonised investment industry across the continent, increasing transparency for the end investor. But four months into the new regime, buy-side firms are finding that the directive has had some unwelcome consequences and overall transparency is worse than ever. Joel Clark reports

Let's be honest, Mifid has hardly had an easy ride. Both up to and since its implementation on 1 November 2007, it has been the subject o