CEPS published a policy brief that provides a detailed critical analysis of the
MiFID Directive’s draft implementing measures. It sets out to examine the evolution of EU regulation of investment firms from the original Investment Services Directive through the
MiFID implementing measures, arguing that the EU Commission has moved from a principles- based approach to a rules-based approach. The great level of detail in some of the implementing measures will impose significant costs to investment firms and could trigger unintended consequences. Nevertheless, some of the negative effects of the
MiFID will surely be offset by the benefits derived from replacing 25 different regulatory regimes with a harmonised set of rules.
ECMI conducts independent research and informs debate and policymaking on a broad range of issues relevant to capital markets.
http://www.eurocapitalmarkets.org/about-ecmi/mission-and-governance',WIDTH, 300, SHADOW, true, FADEIN, 300, FADEOUT, 300, STICKY, 1,DURATION,3500)" onmouseout="UnTip()");">ECMI may 06.pdf
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