UK Proposes MiFID Delay

INDUSTRY ISSUES

The UK Treasury has proposed that the implementation deadline of the Markets in Financial Instruments Directive be delayed by seven months in a paper addressed to the Working Party on Financial Services at the European Commission in Brussels.

While the legislation is currently due to be written into legislation by October 2006 and to be implemented by firms by April 2007, the paper proposes to extend the deadlines to Jan. 31 and Nov. 1, 2007, respectively. A source close to the negotiations s

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