MIFID Articles get Directive Status
Seven articles were left out of the regulation and put into a less legally binding directive:
- Article 21: The most controversial MiFID article, this sets out the rules for best execution of orders.
- Article 4: Specifies the circumstances under which a recommendation can be considered investment advice.
- Article 13: Refers to the organizational requirements with which investment firms must comply in order to be allowed to offer investment services or perform investment activities.
- Article 18
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