|
|
The Quoted Companies Alliance |
|
|
|
||
|
|
 |
|
|
|
MiFID Transparency Directive Companies Act Shareholder Rights Directive QCA Accounting Guidelines Disclosure and Transparency Rules - QCA Guidance Note |
MiFID
Markets in Financial Instruments Directive The Markets in Financial Instruments Directive ('MiFID') was implemented in November 2007. MiFID is the successor to the Investment Services Directive, and forms the basis by which European investment firms can passport their services to other EU countries. It aims to harmonise the financial services industry across Europe. MiFID has substantially affected the way in which securities markets operate, including regulating a wider range of financial instruments and change areas, such as the quotation of prices, transparency, execution, reporting principles and generally apply a higher level of protection to investors. As an example of this, advisers need to assess the financial situation of their clients, requiring at the very least details of income and current assets, such as property and financial commitments including debts. Client classifications are likely to be more restrictive, and as a result limit the range of investments that clients can invest in. The QCA is concerned that, as a result of the above, private investors will find it difficult to be able to invest in SQCs.
|
|
|
|||
|
  |
