Level 2 Draft Puts Industry on Notice

LONDON - Now that the European Commission has released the Level 2 draft of MiFID, most financial firms expect the November 2007 implementation date to be finalized any day now.

The new requirements may come with a high price tag. The cost of implementing the MiFID regulations for investment banks could mount up to £5 billion in IT expenditures, says Chris Pickles, manager of industry relations at BT Radianz and chairman of the MiFID Joint Working Group.

However, such costs are not a certainty

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The Cusip lawsuit: A love story

With possibly three years before the semblance of a verdict is reached in the ongoing class action lawsuit against Cusip Global Services and its affiliates, Reb wonders what exactly is so captivating about the ordeal.

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