The MiFID deadline came and went and the world did not end. Nov. 1 rolled by and the European Commission-the august body that had drafted the MiFID accord years ago-did not hand out fines or issue dire warnings in the press. If anything, for an initiative that many considered urgent, its debut was rather ho-hum-a whimper, not a bang. By Phil Albinus
This doesn't mean, however, that MiFID fails to stir debate. The directive still has a few missing details that cause some concern among banks and exchanges. The very definition of "best execution" should be fodder for industry roundtables for years to come. One observer noted that soon we should be talking about MiFID Mark II, an updated set of regulations that will prepare a new chapter of the European...
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