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The Devil in the MiFID Details

MIFID SPECIAL REPORT

The Markets in Financial Instruments Directive (MiFID), which is due to be enshrined into the national law of all European Union—member states by April 2007, sounds like just one of the 42 directives that are due to impact the insurance, banking and capital markets between now and 2008. However, the scope of its reach, which applies to all financial instruments and investment advice exchanged across every EU-25 member state, should provide ample warning of the changes it might leave in its wake

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