MiFID – the Markets in Financial Instruments Directive – comes into effect on 1 November 2007, when it will replace the existing Investment Services Directive (ISD).

MiFID extends the coverage of the current ISD and introduces new and more extensive requirements that firms will have to adapt to, in particular for their conduct of business and internal organisation.

The aim of the ISD was to set out some basic high-level provisions governing the organisational and conduct of business requirements that should apply to firms. It also aimed to harmonise certain conditions governing the operation of regulated markets.

MiFID has the same basic purpose. But it makes significant changes to the regulatory framework to reflect developments in financial services and markets since the ISD was implemented.

MiFID is a major part of the European Union’s Financial Services Action Plan (FSAP), which is designed to help integrate Europes financial markets.

Intelligence Secured offers MiFID training courses in all EU countries, in addition to in-house training in any location upon request.