MiFID (The Markets in Financial Instruments Directive)

MiFID (The Markets in Financial Instruments Directive) - The EU Directive «About Markets in Financial Instruments». In a Directive attended the Office of Financial Regulation and Supervision of the UK (Financial Service Authority, FSA). This directive replaces the previous Directive «About Investment Services» («Investment Services Directive» (ISD)) and is part of the EU to create a single European market in financial instruments and services.

MiFID requirements apply to 27 countries in EU member states and 3 countries of the European Economic Area.
MiFID introduces new regulations, aimed in particular at increasing the transparency of reporting on transactions in shares and derivatives. The main areas of MiFID, are:

- Activities of stock exchanges and other not currently regulated commercial institutions;
- Setting requirements of pre-and posttorgovoy transparency for transactions in securities;
- Extending the range of investment services and products that require authentication;
- Provide opportunities to carry out international operations by opening branches in other EU countries, investment companies, obtain prior authorization from the national regulators.

The directive, among other things, require investment firms to make some changes in their operating procedures, such as records of transactions and information storage within five years.
MiFID Directive came into force on November 1, 2007.