Mifid: Legislation in Limbo

Chris Pickles, BT

In April 2010, the Committee of European Securities Regulators (CESR) issued a new set of consultation papers intended to re-shape 2007’s pan-European Markets in Financial Instruments Directive (Mifid), and incorporate lessons learned from the financial crisis, as well as deal with the consequences of rapid advances in trading technology and the post-crisis changes in the financial markets.

Compressed into a mere 83 pages, the brevity of these proposals—which have become known as the Mifid

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