MiFID (Markets in Financial Instruments Directive) is the Directive of the European Parliament and the Council No. 2004/39/ES dated April 21, 2004 on the markets in financial instruments. It is implemented into the Slovak legislative system by means of the act No. 566/2001 Coll. on securities and investment services and its later amendment No. 209/2007.
The objectives of MiFID are the introduction of unified regulations on investors´ protection all over EU and completing of the process of creation of unified conditions of competition for all the types of business systems.
MiFID is a further step towards the unified European market and regulatory regime of investment services. It involves the financial service companies (banks, investment advisors, etc.) within the EU, providing the investment services and activities or ancillary services (e.g. custodianship) as well as business systems.
Following are the detailed information on the principal features and contributions of MiFID. Your relationship manager shall be glad to provide you the additional information on the new directive.